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Lucy, Esq.
Lucy, Esq., Attorney
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Im am going to court for a civil suit at the end of the

Resolved Question:

im am going to court for a civil suit at the end of the month for a wrongful death and in the process of giving my house to my son since i can no longer afford it can they come after my house if the deed is no longer in my name if i happen to lose the case?
Submitted: 3 months ago.
Category: Legal
Expert:  Lucy, Esq. replied 3 months ago.

Hi,

I'm Lucy, and I'd be happy to answer your questions today. I'm sorry to hear about your situation.

If your son pays you the fair market value of the house, you're allowed to transfer it to him and that would not be illegal. Transferring property to a third party for less than the fair market value to avoid paying an existing or anticipated debt is a fraudulent transfer. Code of Georgia, Section 18-2-74. The person who is suing you would be able to bring an action to void that transfer.

Under Georgia law, up to $21,500 of the equity in your home is exempt from being taken by creditors to pay a debt. Section 44-13-1. Depending on whether you have a mortgage, that can offer you some protection.

If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.

Customer: replied 3 months ago.
i would have to get a realestate lawer to handle that? i could not just transfer it over to him like with a quick deed?
Expert:  Lucy, Esq. replied 3 months ago.

Even with a lawyer, the transfer would be considered fraudulent, and the person suing you could have it undone. It's only legal if your son is buying your house, for the fair market value. It has nothing to do with the type of deed used.

Expert:  Lucy, Esq. replied 3 months ago.

You can use a quitclaim if your son is buying the house. You don't need a lawyer. But he has to pay you for it.

Customer: replied 3 months ago.
well how would i go about that?
Expert:  Lucy, Esq. replied 3 months ago.

The starting point would be to negotiate a price. Type up some kind of document that shows what the agreement is. Then schedule a meeting where he hands you the money and you sign the deed over to him. If there's a mortgage on the house, you'll need to get a payoff, and he'd write a check for that amount to the bank rather than to you. Any excess would go to you personally. Just like when you bought the house originally.

Customer: replied 3 months ago.
would he have to pay all the money at once?
Expert:  Lucy, Esq. replied 3 months ago.

He can get a loan, or you can do a sale by owner. But it has to be a real sale. If he's not actually buying the house with the intent of owning it, paying the taxes, keeping it up, living in it or renting it out, and if you're not actually intending to give it to him to do whatever he wants with it - including giving you a 30 day notice to move if he's so inclined, then it's not a sale. It's a fraudulent transfer. You can't sign a deed giving him the house with an agreement that he'll pay and a wink and a nudge that he's not really going to.

Expert:  Lucy, Esq. replied 3 months ago.

A better way to protect your assets may be to talk to a bankruptcy attorney about whether you qualify for bankruptcy. Bankruptcy can be used to discharge many personal injury judgments, and there are ways to protect your house.

Customer: replied 3 months ago.
i want to talk in person.
Expert:  Lucy, Esq. replied 3 months ago.

I'm afraid there has been an issue with your payment. If you'd like to speak to someone on the phone, please contact customer service for assistance.

Customer: replied 3 months ago.
hello are you still there?
Expert:  Lucy, Esq. replied 3 months ago.

Yes. As I said, I'm afraid there has been an issue with your payment. Please contact customer service for assistance. I cannot fix payment issues for you.

Customer: replied 3 months ago.
well how do contact them?
Expert:  Lucy, Esq. replied 3 months ago.

Never mind. I'll ask them to call you.

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