Should I transfer the deed to my home into my child’s name to avoid getting lien placed on the property?

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Should I transfer the deed to my home into my child’s name to avoid getting lien placed on the property?

My home paid for. A collection agency is going to place a the lien.

Asked on December 19, 2017 under Bankruptcy Law, Nevada

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

This will very likely not help you. Under the law (for example, the "Uniform Fraudulent Transfer Act," which has been adopted by every state with which I am familiar, including your state), a transfer made when you are aware of a current or pending debt and which was not made for fair market value (for example: putting property into a family member's name when they did not pay you the fair value for it) can be reversed and undone, and the creditor can still get or lien the property. The law does not let you avoid your debts just by transferring your property someone else.


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