mortgage debt obligation in divorce

Guest

Hi,
I am separated from my husband, and about to file divorce papers. we live in florida. in 2006, we bought a home. however, his name is the only one on the mortgage and the note. I am listed on the deed only, along with his name. I merely want to walk away from the house, but my husband is telling me that it is a "marital debt" and that I am legally bound to make some sort of financial contribution to the house, even though I am the one moving out, he is planning on keeping the house and living there himself. what are my legal obligations to the house? can I just walk away? I have no issue executing a quit claim deed to him taking myself off the title. I just want completely out, we have no equity in the home at this time. thank you so much for any insight at all in this matter.

jenkin7 · Posted: Wed May 27, 2009 11:58 pm Post subject:

Hi carry,

If you are not on the loan, you are in no way responsible for its repayment. As you did not sign on the mortgage note, you are under no legal obligation to make the mortgage payments. You have an interest in the property as you are on the title. But you can definitely sign over your interest to him through a quitclaim deed and move away from the property.

Guest

Thank you very much for your response. one follow up question: do I need his involvement in the quitclaim deed? or can I prepare/execute/record that all myself? does he have to sign off on it?

thank you!!!

eric1 · Posted: Thu May 28, 2009 5:58 pm Post subject:

Carry

There are two issues here...

1. In the world of real estate and mortgages, you are not obligated to make any payments as far as the bank is concerned.

2. When going through your divorce, the judge may require you to shoulder some of that debt regardless as to whether you are or aren't on the loan.

The best thing for you to do is consult your divorce attorney.

Guest

on the opposite end. Suppose you are not on the loan, only the deed and the right to cancel, and husband wants to take house from you. What options are there so that spouse can take over the home? I will make the mortgage payments, I cannot qualify for a loan because I am disabled and have too small an income and over $3k in now outstanding med bills that are being paid off slowly.

Guest

I guess I should have mentioned that there is a divorce pending and husband is allowing the house to go into foreclosure to force wife out on streets. He wants to court auction home, and in this present economy! I have always paid the mortgage and will continue to do so. I have the funds necessary to catch the loan up despite his attempts to keep me from doing so.

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