Can I quick deed my house over to my son?

Question

I got hurt at work over 7 years ago. I had a home and a house to rent out. I kept thinking I would get better and return to work but that did not happen. I used the equity in my home to pay bills for 4 years. Workmans Comp. has now stopped paying me the 250.00 I got a week so I am only getting Social Security. That is 1130.00 a month. I am being sued by Sears Credit card which was 3,800.00 now it is 7400.00. That is not fair. I could not help what happened to me. I am a R.N. Anything I can do?

Answer 1

yes you can quick claim a deed to your son.  my dad did this too.  we called to see what was needed to get me on the mortgage and they said a quick claim deed was required.

Answer 2

Dianne,

If the situation is bad and only getting worse, I would consider filing bankruptcy.  This way they can't go after your house.  But I'd check into it first, because they still may not be able to go after your house even if u don't declare bankruptcy.  Furthermore, if u call Sears, many times they will negotiate a settlement far lower than what u owe since they may think that getting something is better than getting nothing.  Of course this will still probably damage your credit, but it may at least get them off your back.

Answer 3

~~You can quit claim your home to anyone. However you will still be the responsible loan holder, it won't change that. Are you fearing bankruptcy and thinking this may  protect your home? After what happened to you, you should be able to file BK and you would have to worry about  losing your home, as you have to show poof of income to show the court you can afford your home or they can discharge that loan too. You would be best to talk with a  BK attorney before you do anything. Now if you want to give your son your home and have him take over all the payments, it's pretty easy to do. Call your lenders and they will usually transfer the loan to a famiily member as long as they meet financial requirements. With no hope of getting a decent wage from your injury, you really qualify to file, and  that is what this optionis for. Just talk to an attorney first so you can get the best advice for you. Hope I understood your question, and I wish you the best of luck!

Answer 4

Depending upon where you live, a quit-claim deed may not be a valid form of conveyance. Check the laws in your state, see what deed is acceptable, and what you need to make the deed valid. If you've been served but no judgment has been entered yet, you can try to deed the property to your son. Good luck to you.

Answer 5

chap 11 bankruptcy will let u keep your house and keep the creditors at bay til u r back on your feet.  call local law school bankrupycy clinic they will do it 4 free

Answer 6

FIRST OFF IS YOUR HOME PAID FOR WITH A CLEAR DEED? IF NOT YOU CAN NOT TRANSFER IT TO ANYONE FOR ANY REASON.

YOU CAN GIVE IT A TRY AND SHE WHAT HAPPENS. IN KENTUCKY YOU CAN SELL YOUR HOME FOR $1.00 IF YOU OWN IT. YOU CAN NOT GIVE IT, IT HAS TO LIST A SELLING PRICE.

I WOULD TAKE MY CHANCE...AND MAYBE SEARS WILL NOT CATCH IT AND JUST WRITE OFF YOUR DEBT, BUT NOT BEFORE THEY DRIVE YOU CRAZY. HANG IN THERE, I AM A SOCIAL WORKER AND I HAVE SEEN THIS HAPPEN ALLOT OF TIMES, AND YES I AGREE ITS A SAME.

GOOD LUCK, DO WHAT YOU HAVE TO DO!!!