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Is it a fraudulent transfer if the buyer of a forclosed commercial property did not pay the taxes owed for nearly one year?
Wiki User
∙ 8y ago
Payment of delinquent property taxes are governed by state law. In general taxes due on property acquired by foreclosure are due at time of sale. Some states do have laws granting a grace period under specific circumstances. If the law required taxes to be paid at the time of sale, and they weren't, the sale is not valid.
Wiki User
∙ 8y ago
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Is using your equity in a home to buy property subject to fraudulent transfer claims?
I don't know why it would be. The equity is a valid asset.
How can a husband wife transfer be a fraudulent transfer in an equitable distribution state?
It can be fraudulent "Where jointly-held property is transferred for the purpose of defrauding creditors, the transferor may not then share in the value of the transferred asset for purposes of equitable distribution". Consult legal counsel for more information.
Can a lien be placed on your house which is in your name only for debts incurred by your father if he is no longer on the deed?
It depends on when he was on the deed. A person who incurs debt cannot simply transfer their interest in real estate to a relative to avoid their creditors. The court will nullify the deed. That type of transfer is referred to a fraudulent conveyance.If the debts were incurred after your father transferred his interest to you your property may be safe. You should consult with an attorney.It depends on when he was on the deed. A person who incurs debt cannot simply transfer their interest in real estate to a relative to avoid their creditors. The court will nullify the deed. That type of transfer is referred to a fraudulent conveyance.If the debts were incurred after your father transferred his interest to you your property may be safe. You should consult with an attorney.It depends on when he was on the deed. A person who incurs debt cannot simply transfer their interest in real estate to a relative to avoid their creditors. The court will nullify the deed. That type of transfer is referred to a fraudulent conveyance.If the debts were incurred after your father transferred his interest to you your property may be safe. You should consult with an attorney.It depends on when he was on the deed. A person who incurs debt cannot simply transfer their interest in real estate to a relative to avoid their creditors. The court will nullify the deed. That type of transfer is referred to a fraudulent conveyance.If the debts were incurred after your father transferred his interest to you your property may be safe. You should consult with an attorney.
Can a co-signer be removed from a title?
No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.No. Not unless they transfer their interest in the property voluntarily.
Does transferring a deed of mortaged property to a child prevent creditors from placing a lien on the property?
Generally, the transfer of title to real estate to avoid creditors is against the law and is ineffective. The creditors can still attach the real estate by legal process. That type of transfer is called a 'fraudulent conveyance' and is extremely repugnant to the legal system. You can read more about it at the link provided below.
Is it possible to put a lien on real property if the parent not paying support quick claimed the property to a third party?
The transfer of property in this manner is legally referred to as a quit claim. Nevertheless, every state has fraudulent conveyance laws, which pertain to the illegal transfer of property in an attempt to protect it from being seized to pay debts, including child support. State laws vary greatly in the presumption of whether fraudulent act has been committed. The main factors are the time frame in which the action occurred and to whom the property was transferred. In the case where an order of support has been granted before the property was transferred, it is very likely fraudulent conveyance laws would apply. Since the property could not be considered the person's primary residence, the homestead laws would likely not be applicable, and if a lien were granted, a forced sale of the property could be possible. This type of legal issue is best handled by a qualified attorney, most will offer a free consultation to explain the options one has to settle the matter.
Why do people do a quitclaim deed on their properties?
In order to transfer their interest in the property to a new owner.In order to transfer their interest in the property to a new owner.In order to transfer their interest in the property to a new owner.In order to transfer their interest in the property to a new owner.
Can the joint property holder transfer the property?
Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.Generally, they can transfer their own interest in the property but not the interest of the other co-owner.
Transfer of property act 1882 deal with immovable or movable property?
It deals with both, the transfer of movable as well as immovable property.
Is private property always private?
Yes. Private property remains private property until it becomes public property by a transfer of title by deed or by a taking.Yes. Private property remains private property until it becomes public property by a transfer of title by deed or by a taking.Yes. Private property remains private property until it becomes public property by a transfer of title by deed or by a taking.Yes. Private property remains private property until it becomes public property by a transfer of title by deed or by a taking.
What kind of trust can a property go to if it has a reverse mortgage?
You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.
How do you get full ownership as co buyer?
Ask the co-owner to transfer their interest in the property to you. Offer to buy them out.Ask the co-owner to transfer their interest in the property to you. Offer to buy them out.Ask the co-owner to transfer their interest in the property to you. Offer to buy them out.Ask the co-owner to transfer their interest in the property to you. Offer to buy them out.
