Can i buy someones house cheap to save them losing it in a civil case?

A friend might get sued in a civil case, although there is an element of blame (he was found not guilty in the previous case). he is worried he might lose his house, if they claimant wins this case. Can i purchase his house for lets say 5grand so its legally mine? and will that mean that my friend will not legally have any assets or money so then cant lose his house?Can i buy someones house cheap to save them losing it in a civil case?
No because it would be classified as fraud on your part and your friends. and not fraud against the claimant. but fraud against the court. because at this time the court will have a summary of your friends assets. so will know about the house.Can i buy someones house cheap to save them losing it in a civil case?
No, the courts would have the power to reverse the transaction. However if you were to buy the house at a more reasonable value then your friend might find it easier to hide/use/dispose of the money from that transaction.
Subject to review; odds are a court would consider that a ';straw man transaction'; designed to avoid paying up in a lawsuit and force a sale anyway if they did indeed force a sale; and they usually don't.





Talk to a lawyer before anyone does anything stupid.
You can buy it, but I would talk to a lawyer before you do, because both of you could get into trouble for trying to defraud the other party in the case.





Personally, I wouldn't go near it.
If they find out this transaction was recent and didn't make any sense except to keep from losing his house then it is fraud and he can be in alot more trouble. Remember what is happening in the Madoff case?
Most jurisdictions give courts the power to reverse transactions where someone gets assets out of their name without full consideration just to avoid a known creditor or potential creditor.
your friend cannot deliberately dispose of assets to avoid financial liability. a court has the power to reverse such a transaction
No, it is not an arm's length deal therefore he won't get away with it and you could be in trouble too.
No that is fraud