federal lien and deed placement
My friend has a federally placed lien on one half of his marital home. He is divorcing and wishes to deed his half of equity to his wife in lieu of alimony. Does the Federal lien stay attached, as the equity and home would be in her name only? There is currently no sale of the home planned.
Asked on 1/06/08, 12:50 pm
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: federal lien and deed placement
The very purpose of the lien is to prevent what he is trying to do. Obviously, there is no equity to transfer if the loans and lien take the value of the property, so a transfer of his "equity" may be worthless.
Answered on 1/06/08, 1:27 pm
