Possible Fraudulent Transfer?
Posted: Tue Oct 16, 2012 3:56 pm
I have a PC who has a large judgment against her. Her home was held in JT with her husband but the home was always meant to be in her husband's name alone and their loan documents support this. After she received the judgement, she transferred her interest in the home to her husband. She is now being sued for fraudulent conveyance. The amount of equity in the home would have been covered by 704. Obviously, as things stand, they have some problems. Would it be advisable for her husband to transfer her interest in the property back to her and then file and exempt the equity?interest in the property and could we just list the property on schedule A and exempt it without transferring it back?
Thanks in advance!
Sujin Kim
Attorney
Hope Law Group
601 S. Figueroa St., Suite 4025
Los Angeles, CA 90017
Tel: (213) 255-5753
Fax: (213) 596-3824
sk@hopelawgroup.com
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