Comments on: Could the hospital take my rent house if i have no insurance?

By: Insurance Pickle.com

Insurance Pickle.com — Sat, 01 Aug 2009 09:32:33 +0000

But, then they could be sued and you’d lose your house. Why don’t you just get the insurance to protect your assets. That’s what it’s for.

By: Gambit

Gambit — Wed, 29 Jul 2009 00:51:35 +0000

You have enough money to own a rental property but not enough to buy health insurance? We’ll talk about priorities another time.
If you put the house in your daughter’s name she is liable for it. This means she is liable for the taxes owed, and she is liable if she is sued because of injuries or damages arising out of the ownership of the property. However just because it’s in her name does not mean your creditors could not ask a court of reverse the transfer if: a) they can prove that you were trying to protect the asset from creditors and/or b) you are still deriving income from the property. If you’re going to transfer it then be prepared to sever all ties to the property.

By: Insurance Geek-ette

Insurance Geek-ette — Sun, 26 Jul 2009 11:09:34 +0000

Yes, they can attach your assets, to pay your debts, including the rent house.

If you put it in your daughter’s name, then it’s HER house. If she dies, it goes to whoever SHE says - her heirs. Not back to you. As it would be her asset, she would be responsible for the taxes and insurance, and she would be the person entitled to the rents.

Additionally, if SHE has any outstanding debts, the house could be attached to pay off HER debts.

By: aaron p

aaron p — Thu, 23 Jul 2009 18:02:59 +0000

You need a good lawyer and an accountant. You need personalized advice from someone you can hold accountable, and you can’t get that here.

You should also talk to a good insurance person because what happens if she goes into the hospital?