[Bubba Jimmy]

Bubba Jimmy misspoke. If you know of potential liabilities, and intentionally move assets to leave yourself unable to satisfy your debts, you risk having the transfer declared fraudulent and voided, with both you and the recipient of the transfer losing any exemptions in relation to the property you transfer.

That would seem to indicate that anyone with debts cannot quit claim property to another individual. In what way would transfering ownership in a second home, in which the credit card companies have no security interest, be fraudulent?

[Mr. Knowitall]

Read section (1) of the statute.

[Bubba Jimmy]

Hindsight is 20-20 as they say. However, the OP says nothing about not paying the credit cards, or being behind on them, or having been put on notice that some encumberance of his assets is in any way imminent. He expressed no intention of defrauding anyone. He merely asked if they could go after his wife for his debts, whether they could put a lien on property he does not own, and if he can quit claim jointly held property to his wife.

I would agree, if someone took such an action with an intent to defraud someone then that's a different matter. Otherwise, people should engage in their day-to-day affairs as they wish, and if circumstances change it would be up to some other party to demonstrate some sinister intention. Timing does affect the other party's ability to do that.

[divemedic]

I would agree, if someone took such an action with an intent to defraud someone then that's a different matter. Otherwise, people should engage in their day-to-day affairs as they wish, and if circumstances change it would be up to some other party to demonstrate some sinister intention. Timing does affect the other party's ability to do that.

I would say that forming an LLC and quit claiming a house would be exactly the sort of thing that the above mentioned law is trying to prevent. The OP psted his wish to do EXACTLY that:

Last Question: We currently have a second investment home, that has both our names on the warranty deed, can I quit claim it over to just my wife so I am no longer on it, does it show I am no longer the owner, just my wife. Or can I create a LLC company and quit claim it over to the company?

[Bubba Jimmy]

I don't mean to be argumentative, but if anyone with a credit card balance could not quit claim a deed to a relative, I'm in big trouble. There has to be some component of intent to defraud in the statute, and I have not even seen any expression by the OP that there has even been a late payment. I take the questions as looking down the road IF something should happen, not as an expression of some desire to defraud. I don't read criminal intent to things people say unless they actually say it. Perhaps it's just me, but I give benefit of the doubt. If this person quit claims the house, then loses his job nine months later and then stops paying on the credit cards because he has no income, it would be very hard for anyone to prove any kind of wrong-doing.

[divemedic]

No, but what I am telling you is that hiding assets, which is exactly what you are asking, is illegal, and the court can and will invalidate the transaction. Not an exact match, but you see what I mean:

Florida law prohibits creditors from attaching payments to a debtor from a trust where the trust agreement has a spendthrift clause. However, there is an exception when the trust was established by the debtor- a so-called "self-settled trust." Courts have held that a spendthrift clause does not protect a debtor’s right to payment from a trust established by the debtor even when the trust is primarily for the benefit of a charity. A second issue is whether a creditor can reverse a charitable trust as a fraudulent transfer to avoid or delay creditors. If a debtor makes a charitable bequest of non-exempt assets to keep the assets away from his creditors the bequest could be subject to fraudulent transfer claims.