If my mother signed her house over to me 2 years ago, can her creditors take it away from me?

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If my mother signed her house over to me 2 years ago, can her creditors take it away from me?

She has owed 3-5 companies for 3 years. Can they take my childhood home if my mother signed it over to me while not paying them? I was told that the companies can take the home from me after it is in my name. No money for a lawyer.

Asked on July 25, 2011 Louisiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Are the companies that want money from you mother only creditors or do they have a judgment against her? If they have a judgment against her, was the judgment recorded on your mother's property before or after your mother signed the property over to you?

If your mother signed the property over to you after the recording of any abstracts of judgment of judgment on the home, then you ended up taking the property subject to the recorded abstracts which are liens.

Additionally, some states in this country have statutes precluding fraudulent transfer of assets by a debtor such as your mother to avoid creditors. Potentially the signing over of your mother's home where you paid nothing of value for the transfer could be set aside as a fraudulent transfer by your mother's creditors and the property could be taken away from you in a later court action.


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