dads explorer in my name?
my dad just bought a 2005 ford explorer, he is currently getting a devorce, and he is scared that his wife will get it he paid 7000 for it, his lawyer said they only way she can get it is if he signs the title over to someone else. so he asked me to put the title in my name, for the duration of his devorce. my question is, does this make me liable for anything, or are there any cons to this?
Comments
Yes it's illegal.
The courts will find it, it's not that hard of a process to track it. This will work against him in the divorce.
Your dad needs to get clarification from his attorney. I think he was referring to an "arms length" sale. Transferring the title to a family member would not be arms length.
It's still hiding assets, he can still get in trouble.
Hiding assets in a divorce is illegal. You helping do so is also illegal.