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    A3rdgenrn's Avatar
    A3rdgenrn Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 16, 2010, 04:22 AM
    Can I gift property to a child that has a judgement on it?
    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    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.
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