jameshogg

Joined: 20 Dec 2005
Posts: 10460 Location: Nevada
987.57 Dollars($)
|
|
raymond
 Community Expert


Joined: 03 Jul 2009
Posts: 1183 Location: Irvine, California
27.07 Dollars($)
|
Posted: Sat Jul 30, 2011 7:26 am Post subject:
|
Like 0
Dislike 0
|
|
I did a Reverse Mortgage similar to your scenario a couple years ago in California (a community property State). The husband inherited his Dad's house, and moved into it as his primary residence, and his wife kept their house as her primary residence. They were separated, but not legally separated, and were going to get a formal divorce "someday". He wasn't financially savvy, so his wife handled all finances for the two of them, including paying all his credit cards, so all his financial stuff was mailed to her house. He got a Reverse Mortgage on his house, and even though it was 100% his, because he inherited it, his wife still had to sign a few of his mortgage disclosures, because it's a community property State and they're still married.
The answer to your question is going to depend on the State you live in. _________________ Raymond Denton
www.RaymondDenton.com |
|