Q: I've been married for 13 years and want to file for divorce.
We have no children. The deed to our home is in my husbands name only but I signed re-finance papers 4 years ago. Can I walk away from this house with no liability?
A: Insufficient information to answer- it is unclear what you signed at the re-fi. If you just signed the trust deed/mortgage ( and this is common when only one spouse is the owner of record) then the effect of that signature is simply your consent/agreement that you residence would be the collateral for the loan, or in other words, that you agree that the bank/lender could foreclose if the loan was not paid. However, alternatively, if you also signed a "note" ( promissory note) at the re-fi, then by signing that document, YOU promised to pay the loan to the bank and you are therefore personally liable for that loan ( as well as your husband). In that situation, if you "walk away" and your ex doesn't pay, then the Bank will come looking for you to help collect the debt. Consult an experienced divorce lawyer before making any decisions.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
