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Trust1 · Feb 18, 2007, 05:34 PM

My sister and I are Tenants in Common via a gift from our mother. The property is paid for in full and has no home equity loans. I have an outstanding credit rating(800s). However, My sister has over extended herself and now creditors are threating liens and or judgements. My sister feels that her financial situation is none of my business. Here are my questions: How can a creditor put a lien\judgement on property that I own fully with my sister without notifying me. Next question: How can a credit card company put a lien\judgement on property before securing her personal assets. She is on SSD and I think that is protected from garnishment , but I am not sure. I am concerned that my credit will be affected and I am worried about the property. Just a comment, she does not even live in the one house on the property, she just left it and I stay in the other house and take care of everything. She continually get mail still at the address,, offers from credit card companies. What is up with that? It should be against the law for credit card companies to send pre-approved offers to someone already being sued, by another credit card company. P.S. She owes 8k and the property is worth over 10 times that much.

ScottGem · Feb 18, 2007, 06:05 PM

In most states, you can't put a lien on a residence for unsecured debt. Even if they can put a lien, it would just mean the lien would have to be satisfied before the property was sold. It wouldn't force a sale.

If they do place a lien, they don't have to inform either of you, But they would have to get a judgement against her first. In that case only she would be informed.

Your sister is correct that her financial affairs are none of your business. But when her financial situation impacts on yours, then you do have a right to be informed.

Your credit will not be affected however, since you will not be a party to any judgement.