I have a question about some financial problems and I want to know if this is illegal?

Question

Ok so my dad lost some land and the bank wants $30,000. He wants to put his truck and his other land and a few other paid off items on my name and put me as the title holder. Is this illegal? And wouldn't they come after me? And what's stopping them from taking this c**p if it's on my name? They have no proof that I have paid any of the bills because I haven't!! Could this potentially ruin my credit?!?!

Answer 1

naww it's fine

Answer 2

how wonderful of your father to want to use you like that

Answer 3

Yep, there's no wrong answer here.   Did your Dad get ripped off to lose the other land, did the bank choke him off on some adjustable rate?

The answer is only in your head and a moral question.  It's completely legal, but just as another posted, it depends on where you are for local laws and how far the bank wants to go to try to recover the 30k.  But you aren't breaking any laws, the worst that could happen is they would take it if they could get some court order, but no matter it wouldn't harm you.  You aren't borrowing anything because these things are already paid for, so it would never show on a credit report for you.  

If it were my Dad, I'd do it and not think twice about it.

Answer 4

Although he is cheating our economy, I understand where you are coming from.

Putting everything in your name means that they cannot touch it. It's in your name so it doesn't matter as long as it is paid off and their is no lien again that property.

Now depending on states, the bank might prove how he is trying to defraud and could seize the property in your name. But I doubt it. They will most likely write it off.

Your credit will not even be affected. You dont have a credit until your 18 btw. so basically now that you have a truck in your name, high-tail it to mexico? haha just kidding. =D