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No, such an action is not possible, and even if it were it would not protect the person's property from creditor action. Personal and real property belonging to a debtor are protected from creditor attachment to the extent provided by the laws of the debtor's state. The exemptions that can be used to protect specific property against a judgment creditor are the same ones that are used when filing bankruptcy and in certain circumstances federal non-bankruptcy exemptions can be used as well.

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โˆ™ 2006-04-05 00:01:49
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โˆ™ 2017-02-26 16:44:54

No. You cannot legally owe money to yourself.

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Q: Can a person place a lien on their own property to protect it from creditors?
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If a spouse dies with debt do creditors have a right to his share of the marital residence?

It may be possible for creditors to place a lien against the property. Whether or not that can be done would depend upon how the property is titled and the laws of the state in which the property is located. Marital property is generally protected from creditor attachment when the deceased spouse is a sole debtor when it is the primary residence. This is not always true if the married couple resided in a community property state when the person died.


Can creditors put a lien on a deceased property if there is no will?

The existence of a will has no bearing on whether or not they can place a lien. If they have a legitimate debt and a judgment, or an agreement in the loan regarding a lien, they can place the lien on the property or the estate.


How does the US government protect property?

By having laws in place that protect owners from those who seek to violate their property rights honorably or illegally.


Can creditors garnish your wages or take your house in California?

Yes. California allows income garnishment by judgment creditors. The law also allows a judgment creditor to place a lien on real property owned by the judgment debtor. Generally the homestead exemption will protect a primary residence from a forced sale for debt owed. Judgment creditors rarely request a forced sale of a primary residence because it is a complicated and lengthy process and is seldom profitable enough for implementation.


Can a lender still place a lien on your real estate property if you have grant deeded over the home to someone else before they placed the judgment?

The answer depends on the details. If it was a legitimate transfer for consideration the lender may have missed its opportunity to attach its lien to the property. However, if it was a transfer for the purpose of avoiding the creditor the court may allow the lien and void the transfer. Creditors are aware of this distinction and will petition the court to protect their rights.


Can creditors place a lien on a corporation or LLC companies?

car creditors put a lien on an LLC


Could a nursing home take your house if your father goes in one and you have a survivorship deed Would they have any right it?

A joint tenancy protects the property from inheritance by other heirs at law but is not a way to protect property from creditors. The nursing home may be able to place a lien on the property and take your father's half interest. You would need to pay off the lien if you wanted to keep his half interest in the property. You should consult with an attorney who specializes in estate planning.


What if a person was given permission to store property while probate of the will took place and now refuses to relenquish property?

The executor should not have allowed the property out of her/his possession. It is their duty to safeguard the property on behalf of the heirs. The executor will need to sue the person who has taken the property.


When can a creditor place alien on your home in kansas?

Creditors can place a lien on your home in the state of Kansas. This ensures creditors are paid an amount agreed upon in by the court.


Does an estate have to place an ad in the newspaper to notify creditors of the death in South Carolina if the person was a legal resident of Florida when there are no asset other than a 401K?

The estate has to notify all known creditors. If they suspect there are other creditors in the state, they should attempt to find them. Not to do so may cause problems later on.


Where and when to place the foo dogs?

place the Foo dogs in front of your Entry either Shop or home on each side one on the left theother on right as it protect your property


Can a person place a lien on property they own with a family member if the family member owes them money?

Yes, a tenant in common can place a lien on the property interest of another tenant in common.


Can credit card companies file liens on your home in California if it is in a Living Trust?

That all depends on the trust and whether it was properly drafted to remove your property from your estate and place it out of reach from your creditors. If your trust was improperly drafted your property will remain vulnerable to creditors. One of the most common trust errors made is for the grantor of the trust to retain control over the trust property by acting as the trustee and often as the beneficiary as well. In that scheme no trust was created and the property is still in the estate of the grantor. Your trust needs to be reviewed.


What is renters insurance and why it is needed?

Renters insurance is for a person who is renting the place where they live. It protects your property if something happens to that place, such as a fire, flood or theft. Without it, only the owner of the property is covered.


Can a person place alien on a home for child support after the property has been purchased?

If you mean, after the obligor has purchased the property, yes. If you mean, after the obligor has sold the property and no longer holds title, no.


Can someone place on a property lien if one person is on mortgage but two people on deed of trust?

Yes.


What happened to a womens property in Colonial America if she was married?

There is no single answer to your question because property rights in Colonial America varied from place to place depending on the rules the early settlers of any particular region brought from home. To determine what property rights women had in early America you would need to do state by state, or colony by colony, research. Generally, a woman's property came under the control of her husband, and was vulnerable to seizure by his creditors. In many cases, when a married man incurred debts his creditors could seize any property owned by his wife, even if that property had been inherited. Single women could inherit land but once a single woman married, the land would come under the control of her husband. Many families were impoverished when a husband died and his creditors stepped in and took everything to satisfy his debts. Massachusetts was one of the first jurisdictions that passed law in 1787 allowing married women to own property under certain circumstances. Women were not given substantial property rights in all states until around 1900.


Where can I find more information about commercial property for lease?

The best place and person to find more information on commercial property for lease to is to contact commercial real estate agent in the area where you looking for the property.


When someone dies in your family how do you find out who their lawyer was or what property they owned?

Advice from FAQ Farmers: * Contact the property recorder's or assessors office in the city or county where the deceased owned property. * Place an ad in the local newspaper where the person died and also place an add in the legal press. Contact the Law Society in your area and they will tell you which magazine to place the ad in. However it may be the case that the person never had a solicitor or made a will.


Are trademarks property?

Trademarks are considered intellectual property. They uniquely identify a person, company, place or product. In the US they are registered with the United States Patent and Trademark Office.


What do you call a place to protect wild animals?

the zoo. or a place to protect wild animals..?


At what level of government would this election take place a person votes to raise the city property tax?

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Is my mother's unfunded living trust liable for credit card debt?

One reason people create trusts is to place their assets out of reach of creditors. The trust needs to be properly drafted. Yours is an odd question if there are no assets in the trust. In many jurisdictions creditors can file a court action in cases of fraudulent transfers of property to avoid a creditor.


What can happen if you cannot pay a judgment in the state of Virginia?

Judgment creditors prefer to use wage garnishment or bank account levy to execute the judgment writ. If neither of those remedies apply the creditor can seize and liqudate non exempt property belonging to the debtor, or place a lien against real property (jointly owned property can usually be attached by a creditor lien).


If you are being sued for an unsecured credit card debt and you are not working can the credit card company collect?

Yes. When enforcing a writ of judgment creditors prefer wage garnishment or bank account levy, as those are the easiest to enforce. However, a judgment can also be used to place a lien against property or to liquidate nonexempt assets. All states have exemptions to protect specific property, both real and personal from creditor action. In most cases the most important one is the homestead exemption.