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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 46221
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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As her parents, would we be liable for any debts our daughter

Customer Question

As her parents, would we be liable for any debts our daughter incurred while being treated for a brain hemorrhage she recently suffered that has left her partly paralyzed and an invalid.
A few years ago we purchased a villa for her in Delray Beach with both our names and her name as co- owners. Needless to say, she will no longer be able to maintain this villa in her condition and we anticipate a tremendous hospital bill for her treatment. At this stage in our life as two 83 year olds, we are not in any financial position to fund these expenses.

Any assistance will be greatly appreciated. German Yrisarry
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. You have no liability for an adult child's debts and obligations unless you specifically signed to be personally liable. Her obligations belong solely to her and if she does not have the assets to pay the debts, the creditors must write them off. They cannot look to you and your assets for payment of any of these liabilities.



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Customer: replied 1 year ago.

Our concern relates to our being co-owners of this villa in the purchase papers and the possibility of being demanded to pay the expected hospital bill that could amount to thousands of dollars we just cannot afford.

Expert:  Richard replied 1 year ago.
They cannot take your interest in the villa and if she was living there...her interest would be her homestead and thus her interest in the villa would be exempt from creditors claims.
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 46221
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
Richard and other Real Estate Law Specialists are ready to help you
Expert:  Richard replied 1 year ago.
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help! For easy access, my bookmark is: http://www.justanswer.com/law/expert-legalbeacon/
Expert:  Richard replied 1 year ago.
Thank you also for the bonus! I appreciate your kindness!

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