Expert: Chris Ebert - 9/9/2009

Question
My wife and I have recently moved to Texas and purchased a house. Due to my poor credit score, my name is not on the loan but is however, on the Deed of Trust. If I am sued by a credit agency for a debt I incurred in 2002 (prior to my marriage) is this residence exempt from a lien? If not, can I legally remove myself from the house altogether to make it exempt?

Answer
Timothy,

Your homestead is protected regardless of who is obligated under the note. Ownership not debt is what controls as to the issue of homesteads. If you owns it (the deed of trust is powerful evidence thereof), then homestead exemption applies.

It is not true that you will necessarily have to pay the judgment. The homestead exemption protects the proceeds of sale of the homestead so that the seller can purchase another house.

Now to the bigger issue your lawsuit. I would like to speak with you about it if I can. Please call (214) 552-6647 at your earliest convenience.

Chris