How Can I hold Title?

[Allie B]

I'm considering buying 8 acres in Northern California...for sale by owner (the owner will carry some paper back). Several years ago, I closed a business due to an illness. I received a lump sum for back disability payments and need to buy property to reduce my monthly expenses (single and disability being my only income). I may have liens against me from the business, but if I pay them off it won't leave me enough money to buy any property and I can't make ends meet. Can I set up a trust and put the property in the trust? Any other suggestions? Thanks!

 

[HomeGuru]

You can hold title in a can or with a man, in a box or with a fox........

 

[Allie B]

HomeGuru...Your arrogance has made this site one that I will never visit again!

 

[HomeGuru]

HomeGuru...Your arrogance has made this site one that I will never visit again!

Jeez,
I never thought of Dr. Seuss as arrogant. He was Mr. Hero and his books actually ecouraged me to read. I attribute my love for reading as a stepping stone to the development of a strong foundation in reading, writing, vocabulary and public speaking. I don't care what anybody says. Green Eggs and Ham is still on my bookshelf right next to the Federal Rules of Evidence. Please encourage your kids to read. Reading is fundamental. I should know. I have both an engineering degree and a law degree. And I thank Dr. Suess for giving me that kick.

HomeGuru arrogant? Should I agree?
I've been up posting till quarter past three.
Some writers don't like me, say give it a rest,
for they don't understand, I give it my best,
To say that I'm not worthy is just BS,
for in the real courtroom I'm put to the test,
the questions, the posts and all legalese,
It's time for a break, some crackers and cheese,
To help others here is true ambition,
especially with the flack and no recognition,
I have spent countless hours giving free advice,
Sometimes I feel like I'm paying the price,
Those that accept me, know I mean well,
and those that don't, you can go to ****,
For I"m not here to please you and make things right,
and if you don't like it, you can't sue this website,
So go on and cry, pout and complain,
The Homeguru will just call you insane,
That is all that I have to say,
that is right now, I'll have my way.

HomeGuru
In Memory of Dr. Seuss

 

[David J. Miller]

Did you just whip that up?

 

[HomeGuru]

Did you just whip that up?

As a matter of fact, yes I did,
for I can talk, like a Ritalin kid,
Did you say whip that up, whip it good?
or just a quip, like you know you could,
I find that some posters are just a pain,
talking and griping with half a brain,
you and I both know that we got better things,
for we run circles around them and rings,
well, gotta go on to check the next post,
or the HomeGuru will be one very bad host,
So give a high five to the HomeGuru's wit,
There will always be some that don't give a sh*t.


HomeGuru
dedicated to my friend David J Miller and the Top 50 awesome freeadvice contributors.

 

[HomeGuru]

I'm considering buying 8 acres in Northern California...for sale by owner (the owner will carry some paper back)...I may have liens against me from the business, but if I pay them off it won't leave me enough money to buy any property and I can't make ends meet. Can I set up a trust and put the property in the trust? Any other suggestions? Thanks!

HomeGuru response: the following is the reason for my intial Dr. Seuss response to the writer.

As you have the read, the writer closed down a business, then got a settlement unrelated to the business. Apparently there were outstanding debts when the business closed and the writer is asking how to hold title to property that is going to be purchased such that any creditors can not collect on their liens/judgemnts by attaching the property. If the liens are paid off using the settlement money then the writer will not be left with enough money to buy the property or to even make ends meet.
In simple explanation, the writer is asking how to hold title to property for the primary purpose of evading the creditors and thus avoiding the debt responsibility.
Since I believe in settlement of debts first, I responded in a Dr. Seuss type way rather than rake the writer over the coals as I am somtimes known to do.

Signed,
HomeGuru