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View Full Version : Can I gift property to a child that has a judgement on it?


A3rdgenrn
Apr 16, 2010, 04:22 AM
I have a bank loan judgement against a property that is not a primary residence. Can I gift this property to a child without paying the judgement?Can he sell the property if he assumes the mortgage?

Fr_Chuck
Apr 16, 2010, 04:35 AM
No it can not be "sold" that is what a gift transfer is, a sell without any money.

The liens will have to be paid for you to transfer it, he can take a loan out and pay off the judgement and the mortgage.

ScottGem
Apr 16, 2010, 05:33 AM
Property cannot be transferred to another party until all liens are satisfied. Otherwise the transfer would not be legal and might be considered fraud.