protecting your home in a lawsuit - Posted by Steve

Posted by E.Eka on October 21, 2003 at 11:46:13:

if you’re being sued, you should contact your attorney. i don’t know why you’d consider listening to anything that anyone has to say on this board. Now is the time to contact a licensed professional.

protecting your home in a lawsuit - Posted by Steve

Posted by Steve on October 21, 2003 at 11:22:36:

I have a home that i owe on,there is a company that is trying to sue me and i want to know if their is a way to ensure they don’t get my investment property.I have heard of a couple of methods, transfer to family member, transfer to corporation. I am being sued personally and would like for them to not have access to this property.

Re: protecting your home in a lawsuit - Posted by kelly

Posted by kelly on October 22, 2003 at 03:49:47:

Here is another perspective. I was in a similar situation and received the same advice (OH MY GOSH HIRE AN ATTORNEY FAST!!!) Thats often the best choice.
However I chose to handle it myself. I personally dealt with the plaintiffs attorney, the judge, the plaintiff, etc. I ended up spending nothing but time and the suit was dismissed.
Lawsuits are always about a difference in perspective. Sometimes it deals with the law, and sometimes the law is just the context for the complaint. What you can and can’t do with your property depends on what stage the suit is in.
Also before I decided to handle it myself I interviewed attorneys (for free) about handling my case. I wrote down all of their options ("here is what we need to do and it will cost $___)
They each had a different answer (which is unusual) and it would have been much more expensive and would have taken much longer. I chose none of their options.

Keep in mind though that sometimes you’re dealing with a tricky legal issue. That will take more time and more research if you do it yourself.
However you need to be willing to research this if you decide to go this way. You also have to be prepared for the doomsdayers (ARE YOU CRAZY!!! DO YOU REALIZE THAT IF_____________, THEN ____________ COULD HAPPEN TO YOU!!! GET AN ATTORNEY OR YOU’LL RUIN YOUR LIFE!!!)
And they will come!
It’s funny but some of mine have now come to me to help with their legal stuff.
Just realize what your getting into and do your homework. But you can do it yourself if you want to.
If you wanna give me anymore details and I can help, let me know.

Re: protecting your home in a lawsuit - Posted by Houserookie

Posted by Houserookie on October 21, 2003 at 22:40:33:

Call an attorney for legal advice but any transfer of interest or ownership should be avoided.

Do you owe money to somebody that you know and trust that might want to file a lien against the property? Right now would be a good time to consider liens.

If you don’t have anything to give, they won’t have much to take althoug a judgement against you can follow.


Re: protecting your home in a lawsuit - Posted by Rob FL

Posted by Rob FL on October 21, 2003 at 19:58:45:

Definitely contact an attorney to represent you.

If the suit is already in motion, any transfers of ownership now may be considered a fraudulent attempt to avoid creditors.