Selling House Before Judgment Hits?
I live in www.SC.I am selling a rental house. I have a law suit against me for 20K. Still fighting it out. I may loose this case. however I would like to know if I would have any trouble getting an Attorney to close this transaction with this suit pending??
[ Edited by sly on Date 04/22/2004 ][ Edited by sly on Date 04/22/2004 ]
If you lose the suit, and there is a Judgment rendered against you, and the J holder learned you'd conveyed the RE after the suit was filed, he/she might be able to sue to set the sale aside as having been fraudulently conveyed.
Do you really want to pass that kind of trouble on to your buyer?
You'd of course need to give written notice to the buyer that a judgment might be coming and the property might be involved in a subsequent suit to collect on the judgment.
Your failure to so advise the buyer might subject you to the buyers' subsequent suit for fraudulent conveyance...knowing your title might be impaired.