Generally, jointly held property passes automatically to the surviving joint owner. It does not become a probate asset so it is not exposed to creditors. However, the situation changes if the creditor attached the property prior to the death of the debtor. Creditors can attach jointly held property while the debtor is living but if a creditor fails to attach prior to the death of the debtor then the property passes to the surviving joint tenant and the creditor is out of luck.
The property can not be taken if is it a joint property. If you are the only one on the judgement, then your spouse is entitled to protect his/her property. He/she must file an affidavit with the court and the sheriff's department to obtain an exemption of the property.
I'm not an attorney, and you certainly need the help of an attorney. But joint tenants have equal and undivided rights in the property they own. It doesn't seem unreasonable that creditors will want something from the mother's property.
If the property was fraudulently conveyed to avoid creditors the court can approve a lien against it in spite of the transfer.If the property was fraudulently conveyed to avoid creditors the court can approve a lien against it in spite of the transfer.If the property was fraudulently conveyed to avoid creditors the court can approve a lien against it in spite of the transfer.If the property was fraudulently conveyed to avoid creditors the court can approve a lien against it in spite of the transfer.
No, the creditors can't take the South America property. But, the Bankruptcy trustee can. The only exemption for real property is a homestead exemption and obviously your homestead cannot be in South America if you are filing bankruptcy in the US. So this property would be taken by the trustee and liquidated to pay your creditors. Directly the creditors can't take the property. Failing to list this property (Hey, it is in South America, how will they know????") can lead to charges of Bankruptcy fraud if found out. It is possible that the trustee would allow you to make a monetary offer to keep the property, especially as selling a foreign property is not easy. You would have to provide a valuation of the property proving the value to the trustee.
Yes, non-married couples with joint debts must file separately. Married couples do not have to file jointly if there are no joint debts included in the filing. The exception is, if they live in a community property state, in which case the non-debtor spouse should also file to assure full protection of exempt property and prevent creditors from pursuing them for collection of the debt(s).
You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.
No. A joint owner has the equal right to the use and possession of the property.
No. If the property is titled correctly (Joint Tenants With Rights of Survivorship) then it cannot be attached by creditors upon the death of any of the owners.
A decedent's estate is responsible for payment of the debts. If there is any property in the estate, the debts must be paid before any property can be distributed to the heirs. If there is no property the creditors are out of luck.
If the lien is related to a debt incurred by the trust, yes.If the trust was properly drafted the property should be safe from the creditors of the beneficiaries. If it was not properly drafted the property remains vulnerable to creditors. That's why trusts should only be drafted by attorneys who specialize in trust law.If the lien is related to a debt incurred by the trust, yes.If the trust was properly drafted the property should be safe from the creditors of the beneficiaries. If it was not properly drafted the property remains vulnerable to creditors. That's why trusts should only be drafted by attorneys who specialize in trust law.If the lien is related to a debt incurred by the trust, yes.If the trust was properly drafted the property should be safe from the creditors of the beneficiaries. If it was not properly drafted the property remains vulnerable to creditors. That's why trusts should only be drafted by attorneys who specialize in trust law.If the lien is related to a debt incurred by the trust, yes.If the trust was properly drafted the property should be safe from the creditors of the beneficiaries. If it was not properly drafted the property remains vulnerable to creditors. That's why trusts should only be drafted by attorneys who specialize in trust law.
liqidation