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ownership transfer

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D

don57

Guest
my girlfriend and I bought a house in Florida 2 years ago with both names on our title, for legal purposes I need to sell her my half, is this possible as a gift, or for one dollar as I have heard and will this stop a lien holder?
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by don57:
my girlfriend and I bought a house in Florida 2 years ago with both names on our title, for legal purposes I need to sell her my half, is this possible as a gift, or for one dollar as I have heard and will this stop a lien holder?<HR></BLOCKQUOTE>

You state "for legal purposes" but is not your intent to transfer interest so that a creditor can not touch it? Also you mention "sell" the property yet your intent is to give it away to once again avoid the creditor. You fail to state the cause and type of the lien and whether the creditor actually currently holds a lien or judgement.
Transfer of real property to avoid a lien or judgement may be possible under certain guidelines but for the most part such action (such as yours) may constitute a fraudulent transfer. If the creditor or lienholder is say the IRS, or another government entity, a mortgage lender etc. the transfer of your interest to your girlfriend could be disputed and the transaction set-aside or vacated leaving the creditors free to attach your interest in the property.
 
T

Tracey

Guest
Also, if your interest is more than $10000, you run into gift tax issues. Consult an attorney who deals in financial matters.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws. [email protected] - please include some facts so I know who you are!
 

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