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QLD Buying a Home while in Court Judgment Debt?

Discussion in 'Debt and Bankruptcy Law Forum' started by pat, 10 March 2015.

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  1. pat

    pat Well-Known Member

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    Recently lost a court case over a car accident and have been ordered to pay over $30k. Initially I was contacted to negotiate a repayment plan. We agreed on a monthly amount and was told they would send me papers to finalise the arrangement. I have not heard from them in two months. Partner and I are considering buying a house - she has a large amount of equity to put into the house. I have none. My question is this if we were to go ahead and purchase a house, is it possible that the people I owe money to could somehow force the sale of the home to regain their assets? We plan to draw up legal papers protecting my partner's investment into the home.
     
    #1 pat, 10 March 2015
  2. Sophea

    Sophea Well-Known Member

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    If a judgement is made against you in court, and you fail to pay the judgement debt, then yes they can go after assets that are in your name. If you pay the judgement debt, no right or need arises to go after your assets. If you do not have funds to pay the judgement debt, then don't put the house in your name. Keep it in your partner's name only.
     
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    #2 Sophea, 10 March 2015
  3. pat

    pat Well-Known Member

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    Thank you for your reply.if my partner owns 50 percent of the value of the home can they force sale.
     
    #3 pat, 10 March 2015
  4. Sophea

    Sophea Well-Known Member

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    Technically yes, but it gives rise to difficulty. Where property is jointly owned, the Sheriff is only allowed to sell your interest in the property. This can mean that a sale is very unlikely to happen, as it is difficult to find a purchaser for half of a house.
     
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    #4 Sophea, 10 March 2015
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