Tenants By Entireties Protection Of Asset Acquired Before Marriage
A caller stated he owned a piece of investment real estate in Florida when he was single. A creditor got a civil judgment against the caller and recorded the judgment in the county where the real estate was located. A title search showed the judgment as a lien on the property. The caller stated that he was about to get married and put his new wife's name on the title. He wanted to know if he could thereafter protect the property as tenants by entireties property.
Putting his new wife on the property title will not protect the property from prior judgment. Once the judgment is recorded any change is title is subject to the pre-existing lien. Also, tenants by entireties protection requires that the debtor acquire the asset during the marriage. In this case, the debtor acquired his interest in the real estate prior to getting married so he cannot claim that he owns the property by the entireties.
posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida.
Question.... my now current wife had a judgement before we were married I want to puchase a second home that will not be homesteaded in my name only In Florida. Will this home be subject to the judgement that my wife has?