How can I resign to the right I have in my investment properties? 23 Answers as of June 16, 2014

They are under my husband's and my name. I want them to be just under my husband's name to protect them from any lawsuit. My father lives in another country and he told my sister he will demand support from both of us. He never gave us anything. He was a drug addict and maybe he still is. I just want to protect my family. We have 4 investment properties we rent and one house where we live. I am a stay at home mom. Thanks!

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
James T. Weiner & Associates, P.C.
James T. Weiner & Associates, P.C. | James T. Weiner
Initially I would recommend doing NOTHING without a thorough legal review! In Michigan ... real property owned by a husband and wife is separate from the assets of each of them... its held by the "entireties"so a creditor of one cannot claim against the property unless both husband and wife are liable. Further you are under no legal obligation to support your father unless you signed something to promise to support him..so your fathers threat is generally not a concern.
Answer Applies to: Michigan
Replied: 6/16/2014
Stephens Gourley & Bywater | David A. Stephens
A quitclaim deed would release your claim to the investment properties. It is unlikely that a court in Nevada would require that you support your father.
Answer Applies to: Nevada
Replied: 6/16/2014
Sebby Law Office
Sebby Law Office | Jayne Sebby
Rather than putting the properties to your husband's name, create an LLC or a corporation and transfer the properties to the company. Even as owners of the company, your family's personal property will be protected from most law suits. I have no idea how your father thinks he can demand support from you unless you bought the investment properties from him and didn't pay him. There is no statutory obligation in the U.S. for an adult child to provide support to a parent just because of their relationship.
Answer Applies to: Nebraska
Replied: 6/16/2014
Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
Keep the properties in your name, and not worry about your father trying to claim support. You as a child have no obligation to support him. Tell him to stuff it. The other reason, to keep your share of the properties in your name, if a divorce came along, then you will have a tough time reclaiming what is yours.
Answer Applies to: California
Replied: 6/16/2014
Danville Law Group | Scott Jordan
I doubt you would need to that and there may be better ways to protect your assets from lawsuits.
Answer Applies to: California
Replied: 6/16/2014
    Law Ofices of Edwin K. Niles | Edwin K. Niles
    You are contemplating a big step. Please talk with an estate planning lawyer before doing anything.
    Answer Applies to: California
    Replied: 6/16/2014
    Kirby G. Moss PC | Kirby G. Moss
    Under these circumstances, I would just deed them to your Husband. Have a lawyer help you.
    Answer Applies to: Indiana
    Replied: 6/16/2014
    Christine Sabio Socrates Attorney at Law | Christine Socrates
    You can take your name off the title to those properties by filing a quitclaim deed, but if there are mortgages associated with those properties, you would have to work with the bank as well. I do not know what basis your father can demand support from you, that sounds unusual. There are also other ways to protect your properties that you can discuss with an estate planning attorney, such as a trust or an LLC.
    Answer Applies to: Ohio
    Replied: 6/16/2014
    Law Offices of George H. Shers | George H. Shers
    Your father has no right to claim support or any money from you. A minor child has a right of support from their parents but the opposite is not true. You could transfer title to the assets to your husband but in a community property state as California that probably would not matter as you still have a one-half ownership interest. You could put the assets into a trust and then it is the trust and not you who owns the property.
    Answer Applies to: California
    Replied: 6/16/2014
    James Law Group
    James Law Group | Christine James
    You really need to sit down with an estate planning attorney. You can transfer the assets int your husband's name but that may not protect you from creditors. Honestly in the US your father has no right to support and if you are a citizen of the US and do not plan on returning to that country, I would think you have very little to fear.
    Answer Applies to: California
    Replied: 6/16/2014
    Kokish & Goldmanis, P.C.
    Kokish & Goldmanis, P.C. | Bernard H. Greenberg
    You will need to work with an attorey who specializes in asset protection matters.
    Answer Applies to: Colorado
    Replied: 6/16/2014
    Law Office of Jeffrey T. Reed | Jeffrey T. Reed
    You can record a Quit Claim Deed transferring your interest to your husband, but it may be too late if there is already a lawsuit? Do you have an attorney yet, what does he say?
    Answer Applies to: California
    Replied: 6/16/2014
    C Page Hamrick Attorney at Law | C Page Hamrick
    FOR WEST VIRGINIA ONLY: To have property taken out of your name in West Virginia, you need to have deeds to the various parcels prepared and recorded. You may want to discuss this with an attorney first, as this has far-reaching consequences with regard to divorce and estate matters. You may want to consider a trust also. It is very complicated and you need an attorney.
    Answer Applies to: West Virginia
    Replied: 6/16/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    You should consider using a LLC. You are potentially creating other issues by transferring them to your husband. I suggest you sit down with an estate planning attorney to address your options. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
    Answer Applies to: Nevada
    Replied: 6/16/2014
    Gates' Law, PLLC | Thomas E. Gates
    There is no way that someone can attach your property for the actions of your father. You have a choice on whether you wish to provide him any assistance.
    Answer Applies to: Washington
    Replied: 6/16/2014
    Frederick & Frederick PLC | James P Frederick
    Jointly owned properties are not subject to the creditor claims or other legal debts of ONE of the parties. You do not need to risk your financial security in order to avoid your father's threats. Under Michigan law, you have no obligation to support him, anyway.
    Answer Applies to: Michigan
    Replied: 6/16/2014
    Busson & Sikorski, PC | Robert S. Sikorski
    This involves issues contained in the Debtor and Creditor act. A transfer after an issue is known may not give you protection you need, and there is the issue as to the validity of your father's claim. Both of these are complex issues.
    Answer Applies to: New York
    Replied: 6/16/2014
    Charles M. Schiff, Attorney at Law
    Charles M. Schiff, Attorney at Law | Charles M. Schiff
    You have the right to convey your ownership interest to your husband. I am not sure that your state of residence makes you responsible for your father's support. If your father is relying on the laws of his home country to obtain a judgment against you, it will be of questionable validity, but getting property out of your name should ensure that his judgment, should he obtain one, is not a threat to this property.
    Answer Applies to: Minnesota
    Replied: 6/16/2014
    Ashcraft & Ashcraft, Ltd.
    Ashcraft & Ashcraft, Ltd. | Randall C. Romei
    I am not sure what legal theory would enable a father to demand support from his children. Deeds can be filed to change the ownership interest in the investment real estate. The marital home can be retitled as with you and your husband as tenants by the Entirety to protect it from creditors. You should consult with a lawyer to determine the best way to transfer ownership of the investment properties without inadvertently creating a taxable transaction.
    Answer Applies to: Illinois
    Replied: 6/16/2014
    Law Office of Pamela Braynon | Pamela Y. Braynon
    I don't know about the laws in the country where your father lives, but it is highly unlikely he can sue you to support him in a court in the United States. However, you may want to see an attorney that knows real estate law to be able to protect yourself from a possible seizure of assets from a court case in another country. However, it may be just as simple as your husband deeding the properties to only himself without you being on the deed.
    Answer Applies to: Florida
    Replied: 6/16/2014
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    See an attorney, what you're asking to do which would involve quit claiming the income producing properties as well as your house to your husband alone, would generally be possible in a common-law state and have very little effect upon you except to limit their available to your creditors. In a common law state it might be another matter.
    Answer Applies to: Michigan
    Replied: 6/16/2014
    Richard J. Keyes Attorney at Law | Richard J. Keyes
    What right does your father have to demand support from you and your sister here in the United States? I know of no law that would force you to support him. He is just trying to bully you and your sister to support him. This is not a healthy relationship to have with your father. You need to cease all communication with him and get on with your life and take care of your husband and children.
    Answer Applies to: Missouri
    Replied: 6/16/2014
Click to View More Answers:
12 3 4 Free Legal QuestionsConnect with a local attorney