our bigest asset is the equity in our homeif for any reaso we wer sued can a lien be put on our assetif so how can we avoid thisthanks
Optional Information: Country relating to Question: United States State (if USA): New York Already Tried: nothing
If you are sued and the court grants a judgment against you, the judgment-holder can file the judgment with the clerk of the county where you live and the judgment then becomes a lien on your property. The way to avoid that is to place your house in a trust, so that it is not an asset of yours directly, but rather the trust. This way, even if you are sued, the judgment will be against you personally, not the trust. You can consult with a trusts and estates attorney to see how to set one up.
Experience: 10+years of experience in all matters of civil litigation and Hearing Officer/Arbitrator