Q: Tennessee a non community property state, can my home be taken if someone receives a huge judgement against me?
The home is TITLED in only my wife's name but I'm on the mortgage. The home has little to no equity whatsoever. The case involves multiple parties.......
A:
No, probably not, under your stated scenario, for three reasons: 1) you don't own the house; 2) in most states, homestead exemptions bar creditors from seizing a marital residence lived in by husband and wife (the "homestead") (unless it's a creditor granted a consensual lien on the homestead (your mortgage, for example)); and 3) even if they could foreclose a judgment lien against the house, their lien would be inferior to the lien of your mortgage, and there's no equity. It would be a good idea to consult an attorney about protecting your assets from creditors. There may be ways to prevent losing non-exempt property to a general creditor, but if done incorrectly will be ineffective. Good luck.
PS: My comments here are not legal advice on your specific situation and do not create an attorney-client relationship between us. Consult an attorney in your state for legal advice on your particular circumstances.
1 user found this answer helpful
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
