Car accident sued for bodily injury
Question Details: If my husband is sued for bodily injuries in an accident that he caused, can I legally put our house in my name only to avoid for it to be taken?
yes but is it necessary. how bad are the injuries vs. how much insurance coverage do you have also do you have a mortgage on your house?
First thing is you need to notify your insurance company that you have been sued. Per your policy, they will assign an attorney to defend you. You may be liable to the extent of the policy limit i.e. if your policy limit is $50K then that's all they can get from insurance. Then, they could conceivably come after your husbands personal assets to recover any additional money owed. So in order for that to be realistic, the injuries to the suing party would have to exceed your policy limit. Failure to notify you insurance company could allow them to disavow coverage and then you would really be exposed.
No. That would be what the law calls a transfer fraudulent as to creditors, and a fraudulent transfer can be un-done or ignored.
Timing is everything. If you had a reason to fear that your husband would become subject to a large liability, for any reason, you could transfer the property out of his name ahead of time, to protect it from an unknown future. But if you transfer it to try and keep it out of reach of a known creditor, you're not likely to accomplish anything but create more trouble for yourself.
