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Im in Oklahoma. Have been served with a foreclosure summons

Resolved Question:

I'm in Oklahoma. Have been served with a foreclosure summons to be answered in 20 days. I am not going to contest it. I have been given a small home through quit claim deed. How do I protect that home from lien.
Submitted: 7 years ago.
Category: Legal
Expert:  NateLawAnswers replied 7 years ago.
Thank you for your question.

If the house is foreclosed and sold at auction, they will certainly sue for any deficiency on the note. So, I would say with confidence that they would certainly sue for any deficiency.

To protect your other home from any potential lien, you need to create a trust and quit claim that property into the trust. You can remain the trustee and control the property, but it would not show up under an asset search as being owned in your name. Make sure you retain an attorney to create the trust - it's not something you want to do yourself and risk losing your home over.

I will be happy to follow up with you if you additional questions. In the meantime, please be sure to click "Accept" so that I can get credit for responding to your question.

Nathan Moore
NateLawAnswers and 8 other Legal Specialists are ready to help you
Customer: replied 7 years ago.
Are the 20 days business days or do they include weekends