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Recent real estate law questions

To protect our home from anyone attaching it to a lawsuit,

To protect our home from anyone attaching it to a lawsuit, which is the better option: Tenancy by the Entirety or putting it in an irrevocable living trust to our kids? The trust would be a QPRT so we can continue to live in the home. Would we still be able to sell the home if it's in a living trust?

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Richard

Owner

Doctoral Degree

 
45,880 satisfied customers
I used to own a property that I managed through my LLC. The

I used to own a property that I managed through my LLC. The LLC owned the property. The property was put up for sale; however, there was an NOD on it due to the balloon payment due...however, it gave me time to sell it. It sold and while it was going through title, the pest inspection company arrived, conducted the work, and agreed for it to be paid through title. There is a clause in the contract that says, if more than 30 days, I will pay in full out of title. I ignored it because once title has it; they have it and that's pretty much it. The work was completed.Now, the new buyer/owner after conducting the final walkthrough, getting the keys from me, had decided the next day to NOT buy the house. They had called title to stop the payment. This threw a wrench in the entire purchase and sale. I had to sue the buyer to recover my costs and loss. Meanwhile, I did notify the pest company of this, informed them in emails that this will take a little more time because I was able to hold the escrow fee that would more than cover their costs while I take the buyer to court. I had showed them I had officially sued the buyer. They agreed to wait, but, during that time they filed a mechanic's lien on the property. There was nothing else other than this. They did not file any lawsuit or any other within the 90 days of filing their lien.During this time, I had tried to sell the property once again, but it was too late, the first mortgage holder closed on the house through foreclosure and took the property, then turned around and sold it. I had lost the court case due to a bad judge who did not know real estate law, he said, "well, she should be able to not buy it if she did not like it." OMG!!! So, I lost. Now, the pest company has an attorney threatening me to pay up "or else," but I do not see how? How can they collect? They are attempting to get it through me personally, and not the LLC, which I have informed them to go after because I did not personally own the property, it's a corporate entity. This attorney has not stated any laws or statutes, except that he pointed out the 30 days item that I ignored. It is my understanding that once they file a mechanic's lien on the property, that pretty much gives me time which I attempted to collect, but they had lost their opportunity on this due to it being past 90 days from filing; they did not file any lawsuit against the property.Can this company file anything on me personally? If so, how? But, the property was in an LLC, not me personally. What, if any, can they do? I'm trying to work things out, but now they are just going beyond and wanting more. I just need to know where I stand legally, and what they can do legally, if any.

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Ely

Counselor at Law

Juris Doctor

 
62,078 satisfied customers
Continuation of fraudulent conveyance question.....So bottom

Continuation of fraudulent conveyance question.....So bot***** *****ne is.....that a creditor who comes along in the future...lets pretend 1-2 years from now...does not have that 1 year period since the transfer was not hidden but instead public record. I read something written by Riker Danzig, which has a case on it "Sasco"...... http://riker.com/publications/… This is what is puzzling me. It seems that the Pliantiff would have had an additional year in that case....and it was a deed transfer. Am I misreading it?

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Irwin Law

Juris Doctor JD

 
8,060 satisfied customers
I have a question regarding liens and real estate. I

Hi....I have a question regarding liens and real estate. I deeded title to our primary home to my wife over 5 years ago for $1. My question is if in the future a have a lawsuit and lien placed on me. Would the transfer...be considered a fraudulent transfer and could the plaintiff put a lien on our home. This is our primary dwelling. I read the Act...and is confusing to me when it comes to statute of limitations......As to transfers involving allegations of actual fraud, a cause of action with respect to such a transfer is "extinguished" unless the action is brought within "four (4) years after the transfer was made or the obligation was incurred, or, if later, within one (1) year after the transfer or obligation was or could reasonably have been discovered by the claimant."It seems that the 4 year period doesn't even count....

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Irwin Law

Juris Doctor JD

 
8,060 satisfied customers
Good Evening, I have been living in this house since 2011.

Good Evening,I have been living in this house since 2011. My husband and I rented it from my father in law from 2011 to August 2013, when my father in-law told us that he wanted us to have this home. He gifted the home to us August 2nd and we were under the impression that we owned it at that point. So we started to renovate it and make it our home. Among the renovations was a new, larger deck because the other was rotten and collapsed. We also replaced the broken stove, and the failed heater. We decided to upgrade the heating unit and add an a/c unit. We got a really great under the table deal from our step father in law and paid for these units in cash. We also paid property taxes. According to court documents, in May 2015, my father in law lost a court case in a "default judgement". This judgement was made in May which also took action to invalidate the deed. My father in law has now proceeded with bankruptcy and the trustee and realtor in his case are planning to sell this property within 5 months in a short sale. We were informed that we would not be able to purchase this home if there are no liens or equity in the house, as we are related to the debtor. My questions are:Is it true that we cannot purchase this home if we are related to the debtor?Do we hold any rights to get the money we paid in renovations and property taxes back prior to the sale?Do we have the right to take the units we paid for with us when we move? (Although it was all done under the table, hence the great price, we can get bank statements for the ATM withdrawals as well as declarations/legals statements from the installers and my step father in law.) Would this work?

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Maverick

Doctoral Degree

 
5,210 satisfied customers
I would like to follow-up on the answer I received yesterday

I would like to follow-up on the answer I received yesterday presumably from the same attorney. Here is additional information:1. The judgment debtor and his wife divorced on August 31, 2012.2. They purchased a house ($2354940 in Houston, TX around September 27, 2015 as HUSBAND AND WIFE! I have a copy of the deed.3. The deed of trust ($171400) is signed as HUSBAND AND WIFE. I have a copy.4. On October 2, 2015, the husband signed a quitclaim deed. I have a copy.What are the implications of this information concerning fraudulent transfer, the Texas homestead exemption, placing a lien on the property and ultimately collecting the judgment? The judgment currently is being domesticated in Texas.

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Ray

Lawyer

Doctoral Degree

 
33,892 satisfied customers
I am trying to find out if there is a place where I can go

I am trying to find out if there is a place where I can go to find examples of cases where a quit claim deed was overturned. I signed a QD to my husband because of a pending lawsuit and judgements. I trusted him and he was supposed to sign it back to me, but now its divorce court

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Attyadvisor

Doctoral Degree

 
6,484 satisfied customers
ANSWERING AN UNLAWFUL DETAINERCOMPLAINT have a hearing tomorrow,

ANSWERING AN UNLAWFUL DETAINERCOMPLAINT have a hearing tomorrow, complaint /wrongful detainer or grantor in possession maryland Real property Law 14-132 or 14-109 Iam the owner ,This case was brought by forclosing lender whose Deed of trust was voided years ago via Code of Federal Regulations(###) ###-####Title 12 part 617 subpart A-General item(c)filed in land records and served on lender July 1,2012 and pursuant to the Truth and lending Act-TILA 1635 of the same Date .Did serve SUBPOENA 'S ON THE TITLE and Title insurance companies,but will not have a response from them by court tomorrow,they are the ones who transferred title to my home with no regard to Clouds filled against the property,lender was /is a Chap 7 discharged creditor,his lein would have survived,EXCEPT that it was voided due to the two fed laws and was also Discharged .Property is occupied by three seniors ranging in age from 66-88 (this person has been in the property 23 ) two with cancer ,can I demand a delay tomorrow,pending receipt of my Documents etc ,time to prepare my case ? .Also filled a case in The United States District Court to Quiet Title to Real Property,cancel Deed Temporary Injunction and to set aside Fraudulent Transfer < no response from that court as of yet,A little help Please worred for the older guy sometime a insident could be two big of a shock for them his lease is good till Aug 16 and his rent is already paid for June.16

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Ely

Counselor at Law

Juris Doctor

 
62,078 satisfied customers
I signed a Quit claim on house to step-daughters. 3 months

I signed a Quit claim on house to step-daughters. 3 months later filed bankruptcy. I live in house. can trustee void quit claim and sell house? What happens to homestead excemption?

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William B. Esq.

Attorney

Doctoral Degree

 
18,436 satisfied customers
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