Property Lien for Credit Card Debt?
Date: Thu, 09/24/2009 - 07:50
My son's wife (they are now separated) ran up a hefty credit card balance in her name only and it will come up before the court soon.
Can a lien be placed against my son's house for her debt? The house is in both their names right now.
Can a lien be placed against my son's house for her debt? The house is in both their names right now.
If the property is still in both their names then may be a lien
If the property is still in both their names then may be a lien can be placed against it. Your son may wish to take her name off the mortgage papers if he wants to save the house and the same time don't want her debts to hit his report.
A lien can be placed against the property upto the share of the spouse who owns the debt, exceptions are the TBE states. Hence the state laws too would play an important role in this regard.
However, just hang tight; you'd soon hear from the experts too.
