Can a Life Estate be issued a levy/lien?

[ANQ]

What is the name of your state? Florida
Years ago I filed a Quit Claim signing my house over to my daughter. I am on record as having a Life Estate in this property. I still live in and maintain the house, and pay the mortgage insurance and taxes. Can a bank place a lien/levy on the house in order to seek repayment of a loan? I am elderly and on a fixed income, am in poor health, and through some bad decisions got over my head with a car loan and defaulted (also lost possession of the car.) I am preparing to discuss terms of loan repayment with the bank, and want to know what I may expect, what I should do - to fulfill my responsibility- and still be able pay my other bills?

Thanks for your help.

[zippysgoddess]

Well, first before they could do anything else, they would have to get a judgment against you.

Florida, however, has a homestead exemption so they can't touch your primary residence.

[url]http://www.alperlaw.com/constitutional_protection.html[/url]

[HomeGuru]

Originally Posted by zippysgoddess

Well, first before they could do anything else, they would have to get a judgment against you.

Florida, however, has a homestead exemption so they can't touch your primary residence.

[url]http://www.alperlaw.com/constitutional_protection.html[/url]

**A: moot point since the writer has no primary residence where homestead would apply.