Will filing a quitclaim deed protect my home from husband’s d/b/a?
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Will filing a quitclaim deed protect my home from husband’s d/b/a?
My husband and I have owned our home for 17 years, with a mortgage. He has his own business (a “d/b/a”) that is now struggling, and he owes money to some businesses. One of those businesses has filed a suit which threatens our home now. How can I get his name off our home title? Can he file a quitclaim deed? Any info is appreciated. Thank you.
Asked on June 15, 2009 under Real Estate Law, New Mexico
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
There's no really effective way to get your husband's name off the deed. Even if you use a quitclaim deed, the creditors can probably follow his interest because he wouldn't be getting anything back in his name. While I'm not a New Mexico lawyer, there are statutes that are adopted usually in identical form by all or most states to deal with some subjects, called "uniform laws," and one of these deals with what are called fraudulent transfers, because they are designed to keep assets out of the hands of creditors.
Please talk to an attorney in your area about this, as soon as possible, and before doing anything. Sometimes, trying something like this makes the situation noticeably worse. One place you can find a lawyer to give you reliable advice, based on all of the facts of your case, is our website, http://attorneypages.com
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