Selling a property to avoid a lien

What is the name of your state? Florida

The mother of a friend of mine is in the process of trying to resolve a student loan default (she says that it's paid in full but the agency says it isn't). In the meantime the collection agency may try to apply a lien to her home. Is it be possible for her to sell her home to her daughter for $1.00 if the bank allows the daughter to assume the exsisting loan. Or for her daughter to buy the home from her for $1.00 + the exsistng mortage+fees ...etc.. This way the home would be protected against a lien against the mother, since the mother would nolonger own it.

[HomeGuru]

[quote]Originally posted by kagato
[b]What is the name of your state? Florida

The mother of a friend of mine is in the process of trying to resolve a student loan default (she says that it's paid in full but the agency says it isn't). In the meantime the collection agency may try to apply a lien to her home.

**A: the CA cannot just "apply" a lien but first must file litigation and win a judgement. Only then would they have lien rights.
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Is it be possible for her to sell her home to her daughter for $1.00 if the bank allows the daughter to assume the exsisting loan. Or for her daughter to buy the home from her for $1.00 + the exsistng mortage+fees ...etc.. This way the home would be protected against a lien against the mother, since the mother would nolonger own it.

**A: nice try. CA could claim fraudulent transfer and get the court to void the "sale"

Thank you for the advice. I figured as much since otherwise it would be to easy to avoid liens this way. Still it was a nice idea if it worked. Thanks again.

[HomeGuru]

OK.