Possible judgment/marital property

[MamaLuna]

What is the name of your state (only U.S. law)? Illinois

Divorce was final in March. Marital home is occupied by exwife, exhusband pays mortgage, house is owned by both until it sells and equity can be split.

Exwife was in an accident that may result in a lawsuit/judgment. Is exhusbands equity in home protected against a judgment lien? Is there anything exhusband can do to protect his interests?

Thanks you.What is the name of your state (only U.S. law)?

 

[seniorjudge]

Unless the judgment is against the husband, I don't see how his interest in the real estate would be affected.

 

[MamaLuna]

That's what I thought. Thank you for your prompt reply!

 

[MamaLuna]

Little more info.....there is NO equity in the house, they are simply trying to sell as it is the last of the marital property.

At this point there is NO lawsuit. Would it be good financial planning to have her quit claim her legal rights to the house so that if she were to be sued and receive a judgment against her she would have no legal right to the house therefore a lien could not be placed against it and he could continue to try and sell it?