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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 37362
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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I need to protect my home without filing bankruptcy...can I

Customer Question

I need to protect my home without filing bankruptcy...can I sell it to my married daughter without her husband having any claim to it? Or should I give it to her to take posession of and her husband not having any claim to it?
Submitted: 1 year ago.
Category: Legal
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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What or whom are you trying to protect the home from?

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Is it being foreclosed on or something like that?

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thanks

Barrister

Customer: replied 1 year ago.
NO, but I am incurring a student loan debt which is now $129,000 and growing. I do not want to be forced to sell it to pay the debt. I just learned today I processed an agreement with a LLC called Student Loan Solution. While I could meet what I now owe them...I had forgotten about the agreement. School loan will keep increasing until I finish. I do not want my house to be subject to have to sale or vernable to loan sharks to reap the payments. I do not want my son-in-law to have any claim to the house should I give/sale it to my daughter.
Expert:  Barrister replied 1 year ago.

Ok, understood. If you sell it to daughter, it will become a marital asset that the husband would have a claim to. However if you gift it solely to daughter, it is her separate property and husband has no claim. Gifts and inheritances are considered the separate property of the recipient and remain that way indefinitely unless they convert them to marital property.

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thanks

Barrister