Can a creditor put a lien on my home? How? 10 Answers as of June 08, 2015

My brother has credit card debt that he cannot pay. He was a cosigner on my house loan but he signed a quit claim on the deed last month. I was wondering can creditors put a lien on my home even though I have the quit claim. Also statute of limitation is 5 years. If they put a lien on my home does that mean the lien last 5 years as well or is it until I sell the house. Also could you please explain the 5 years SOL. does that mean the collectors can't come after him after 5 years? Thank you so much for your help.

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GARCIA & GONZALES, P.C. | Richard N. Gonzales
I would suggest you meet with a very experienced bankruptcy lawyer to get all these questions answered. Not all of your questions are bankruptcy questions. Any lawyer worth his or her salt is going to charge you for the consultation. Now is not the time to skimp! Get good, solid advice so you know how to proceed (for example, the statue of limitations for the collection of a debt is typically six years, not five). Good luck!
Answer Applies to: Colorado
Replied: 6/8/2015
James T. Weiner & Associates, P.C.
James T. Weiner & Associates, P.C. | James T. Weiner
Michigan is a race notice state so who get to the register of deeds wins.. SO If you actually file with the county register of deeds the quit claim (not just have it in your possession) BEFORE the creditor places the lien then you do not have to worry.. A creditor cannot place a lien until AFTER the creditor gets a judgment so.. If the creditor gets there first the lien is good for 10 years but it cannot be renewed..Furthermore the 5 year state of limitation is immateral.
Answer Applies to: Michigan
Replied: 6/8/2015
A Fresh Start
A Fresh Start | Dorothy G Bunce
Your brother may have a far worse problem then a lien on your home. If he signed the quitclaim at the wrong time, he may have violated the Uniform Fraudulent Transfers Act which makes it a crime to sign away ownership in property in order to avoid the consequences of owing debts. The SOL and the length of time a lien is valid are totally separate issues with totally different time frames. If a lien is placed on your property, it can be renewed over and over to give it immortal life, just like a Vampire.
Answer Applies to: Nevada
Replied: 6/8/2015
Mauritz Van Niekerk, Attorneys at Law
Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
By getting a judgment and filing it with the clerks office
Answer Applies to: New York
Replied: 6/8/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
If they sue and get a judgment, they could only try to get a lien on the house if they claim he came off the deed to avoid creditors. That is called a fraudulent conveyance and usually happens when there is no money exchanged for signing over the deed. And it is a 6 year statute of limitations in NY that applies from the time he defaulted and if they do not sue in that 6 year period then the debt is uncollectable
Answer Applies to: New York
Replied: 6/8/2015
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    The SOL is the amount of time the creditor has to sue him. The judgement can become a lien if the creditor records the judgement and then it it is called an "abstract of judgement". In California the judgement is good for ten years and gathers interest. It will attach to any property in his name. If your brother files for bankruptcy he has to tell the trustee he quit claimed the property to you. As long as you can show he put no money into it you will not have any problems.
    Answer Applies to: California
    Replied: 6/8/2015
    Ronald K. Nims LLC | Ronald K. Nims
    Since he signed a quit claim on the deed, his creditors can't put a lien on your home (although you should check if any already exist). The five year statute of limitations means that a creditor has five years to sue on the debt. But once they sue the judgment remains as long as they keep renewing it
    Answer Applies to: Ohio
    Replied: 6/8/2015
    Garner Law Office
    Garner Law Office | Daniel Garner
    Your home could be at risk because your brother transferred his interest to you within the last month. That could be viewed as a fraudulent conveyance since you paid nothing for it, which means that a creditor could argue in court that the house is still partially his. A creditor would have to sue you and get a judgment before a lien would attach to your house. The statute of limitations would be a defense to such a lawsuit if the debt was incurred more than 5 years before the lawsuit is filed, meaning that the court would not render judgment in favor of the creditor if they waited too long. The SOL does not stop unscrupulous bill collectors from trying to collect stale debts in ways other than a lawsuit. And if a judgment is rendered, state law dictates how long the lien stays in effect. In Oregon, a judgment lien lasts for 10 years and can be renewed for an additional 10 years.
    Answer Applies to: Oregon
    Replied: 6/8/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    A general creditor can put a lien (other than a consensual mortgage) on real estate only after he/she/it/they obtains a judgment against the owner of the property. Your relative's signing a QCD as to property in which he holds an interest does not affect his liability on any debt. If the question is whether his creditors can obtain a judgment lien on your real estate, the answer is that they can, if they are sufficiently motivated to go to the trouble. And under these facts there would be some serious botheration in doing so. If the relative merely co-signed the loan, without having any ownership interest in the property in the first place, then his creditors would not be entitled to a lien on the subject property. Good Luck.
    Answer Applies to: Wisconsin
    Replied: 6/5/2015
    Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
    1. A deed must be recorded with the recorder of deeds where the property is located to be effective against third parties. This should be done immediately. 2. If the brother actually owned the property beneficially as opposed to had his name on title in the event of death, a transfer of the property with knowledge of a claim could be attacked later as a fraudulent transfer. 3. The five years means they have five years to file suit, measured from last use / payment of the card. Then they have to win and get a judgment. A lien would not exist until judgment is entered. A judgment lien can be enforced for 20-27 years, subject to revival of the judgment after 7. Enforcement can include an attempt to set aside fraudulent transfers.
    Answer Applies to: Illinois
    Replied: 6/5/2015
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