T
twinbridgefarms
Guest
I'm in Pennsylvania.
I own a property with a brother, as tenants in common. The mortgage is 100% in my name already. I want to buy him out, and take sole ownership. I will be paying him an agreed upon amount. The problem is I know he has several judgements against him, and I need to know how to properly do this deal such that his creditors cannot later come after the property. I have heard that they could claim we did a transfer to avoid them, and they could still have a claim on the property? Is that true? What is the correct process to protect myself in PA? Any advice will be greatly appreciated. My current attorney says there is no way, I would be best just selling the property outright to a new owner. He does not specialize in real estate. Do I need a new attorney, or is he correct?
I own a property with a brother, as tenants in common. The mortgage is 100% in my name already. I want to buy him out, and take sole ownership. I will be paying him an agreed upon amount. The problem is I know he has several judgements against him, and I need to know how to properly do this deal such that his creditors cannot later come after the property. I have heard that they could claim we did a transfer to avoid them, and they could still have a claim on the property? Is that true? What is the correct process to protect myself in PA? Any advice will be greatly appreciated. My current attorney says there is no way, I would be best just selling the property outright to a new owner. He does not specialize in real estate. Do I need a new attorney, or is he correct?
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