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  1. #1
    Join Date
    May 2008
    Posts
    1

    Default Judgement For Bad Debt

    My question involves real estate located in the State of: Texas
    My husband had a judgement filed against him for credit card debt he is unable to pay. My understanding is that if we sold the house, any gains or profit from that sale...the judgement to the creditor would have to be settled from the proceeds. Same situation if when we die and the property is inherited to our children and they sell the property. The judgement states the principal balance plus huge accrued interest. If my husband turns the property over to me with a quit claim dead, would that prevent the credit card company from receiving any judgement, since the property would be in my name. My name is not on the credit card debt at all. I did not sign or apply for the credit, however, in this state, I may still be liable because we are married? How can I keep any future profit from the sales of the house to myself or our children and not have this judgement eat up all the equity? My husband is willing to execute any necessary document to rectify this situation.

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Judgement For Bad Debt

    If my husband turns the property over to me with a quit claim dead, would that prevent the credit card company from receiving any judgement, since the property would be in my name.
    I don't think so, since it's your marital home.

    Did he incur the debt before or during your marriage?

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