Full question:
my husband owes our daughter thousands of dollars. he sign a note to sign our home over to her. now he wants to sell the house and bypass her. how do we place a lien on the house so that he cannot sell it
- Category: Real Property
- Subcategory: Liens
- Date:
- State: Nevada
Answer:
Typically, a promissory note is a written promise to pay a debt. An unconditional promise to pay on demand or at a fixed or determined future time a particular sum of money to or to the order of a specified person or to the bearer.
If the note is secured by some kind of collateral, it is called a Collateral Note or Secured Note.
A demand note is a note payable on demand from the person who is owed the money.
A recourse note is a note where the default may result in loss of collateral and also personal suit and judgment. Most notes are recourse notes.
An unsecured note is a note that is not secured by any collateral but only the promise to pay.
If at the time of execution, the borrower intended to give a piece of real estate as collateral for the loan, the borrower would execute a Deed of Trust or a Mortage as security for the loan. The lender would then record that document on the local land records to ensure that the lender is protected in the case of default on the loan.
It is not from your question what you mean by "he sign a note to sign our home over to her." Since Nevada is a community property state, any transfer of the property including a mortgage or deed of trust, would have to involve his spouse. Therefore, any sale of the house would require the spouse's involvement and signature.
If the note signed to your daugther was not secured by the real property (by a deed of trust or mortgage, duly recorded), then her recourse may be to bring a lawsuit to enforce the terms of the promissory note. If she is successful in her claims and obtains a judgment, that judgment can be filed as a judgment lien on the property which would be subject to any other secured interests that already appear on the land records for that property.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
