risk involving co-owner on property???

[splib]

What is the name of your state?IN
If I purchase a home with my stepson and he gets sued or a judgement filed against him, can they take the home that is in both our names or will it be harder to take because I am on the title?
If he were to get into some trouble, I dont want to be put out in to the street.

[HomeGuru]

Originally Posted by splib

What is the name of your state?IN
If I purchase a home with my stepson and he gets sued or a judgement filed against him, can they take the home that is in both our names or will it be harder to take because I am on the title?
If he were to get into some trouble, I dont want to be put out in to the street.

**A: they can take the home, sell it and give you your share of the proceeds. Either way, you will be in the street.

[splib]

Originally Posted by HomeGuru

**A: they can take the home, sell it and give you your share of the proceeds. Either way, you will be in the street.

thanks for the reply.
That does not sound like a postion I want to be in.
I do intend on leaving the home to him for when he is older but at this point I am not finished here and he is not ready for the responsibility.
Any advise on how to convay my current poperty and the one I intent on buying in to a trust of some sort?

Yes, I will be looking to an attorney for somthing like this but it's nice to have an idea of what you are looking for before you walk in.
thanks

[HomeGuru]

Originally Posted by splib

thanks for the reply.
That does not sound like a postion I want to be in.
I do intend on leaving the home to him for when he is older but at this point I am not finished here and he is not ready for the responsibility.
Any advise on how to convay my current poperty and the one I intent on buying in to a trust of some sort?

Yes, I will be looking to an attorney for somthing like this but it's nice to have an idea of what you are looking for before you walk in.
thanks

**A: yes, see a trust attorney.