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Can a person place a lien on their own property to protect it from creditors?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
Wiki User
∙ 15y agoDoubtful and pointless. It would be closely akin to suing yourself in a court.
Wiki User
∙ 13y agoNo, of course not. A lien is what a creditor can obtain in court when someone owes them money. You cannot sue yourself.
Wiki User
∙ 7y agoNo. You cannot legally owe money to yourself.
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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.
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.
Can creditors place a lien on a corporation or LLC companies?
car creditors put a lien on an LLC
Can a creditor place a lien on a house where mother just added son to the deed although he never contributed to any payments?
Yes. That is one of the problems with adding someone's name to the deed to your property. Adding another name as owner makes the property vulnerable to that person's creditors. The attorney who drafted the new deed should have explained that consequence to you. Your son needs to pay off that lien in order to remove it from the property. You should also check into homestead exemptions in your jurisdiction.Yes. That is one of the problems with adding someone's name to the deed to your property. Adding another name as owner makes the property vulnerable to that person's creditors. The attorney who drafted the new deed should have explained that consequence to you. Your son needs to pay off that lien in order to remove it from the property. You should also check into homestead exemptions in your jurisdiction.Yes. That is one of the problems with adding someone's name to the deed to your property. Adding another name as owner makes the property vulnerable to that person's creditors. The attorney who drafted the new deed should have explained that consequence to you. Your son needs to pay off that lien in order to remove it from the property. You should also check into homestead exemptions in your jurisdiction.Yes. That is one of the problems with adding someone's name to the deed to your property. Adding another name as owner makes the property vulnerable to that person's creditors. The attorney who drafted the new deed should have explained that consequence to you. Your son needs to pay off that lien in order to remove it from the property. You should also check into homestead exemptions in your jurisdiction.
What if a person was given permission to store property while probate of the will took place and now refuses to relenquish property?
If the person refuses to return the property as agreed, the legal owner or executor of the estate can take legal action against them. This may involve filing a lawsuit for the return of the property or seeking a court order to force them to relinquish it. It's important to consult with a lawyer to understand the specific legal steps and options available in this situation.
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.
Is there a newspaper ad to notify creditors of death?
Yes, it is common to place a newspaper ad known as a "Notice to Creditors" to notify creditors of a person's death. This ad typically provides information about the deceased person's estate and informs creditors about the process for making claims against the estate.
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.
