Legal Question in Real Estate Law in New York

Re: Quick deeding my home

You can quit claim deed your share to your wife. If this tranfer results in your having insufficient assets to pay any judgment a court may set aside the transfer as a fraudulent conveyance.

Re: Quick deeding my home

Have you been served with any papers, or have you had any indication that a lawsuit is imminent? Give the office a call at (212) 618-1830 to discuss this further.

Re: Quick deeding my home

You might also want to look into putting ownership of the home by yourself and your wife into something called "tenancy by the entireties." In some jurisidictions, this will safeguard the home -- you'll need to check NY law on the issue, however.

-- Kenneth J. Ashman; www.AshmanLawOffices.com

This communication is intended for informational purposes only and is not intended to create an attorney-client relationship, which, under the policies of Ashman Law Offices, LLC, can only be created by execution of a formal retention agreement.

Re: Quick deeding my home

If you are being sued for money you owe, any transfer may be viewed as an attempt to defraud creditors and may be set aside by a court. On the other hand, if you are being sued for a tortious act, ie: auto accident, etc., a transfer before suit may be alright. Transfer to you and your wife as Tenants by the entirety is probably the best move unless your wife is also a potential defendant.