Both are equally responsible for debts accumulated during the marraige. That includes your credit cards, her credit cards, mortgage, vehicle, personal loans, etc. * No. NY is not a community marital property state (it is a TBE state). Therefore all separately owned property and separately incurred debt belongs to the person named on the deed, title and/or lending contract.
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
No. Your husband has no obligations or liability regarding your mortgage.
It will depend on the specifics of your situation and the laws of your state regarding whether the property is considered to be separate property or marital property. Even if your name is not on the mortgage/title, it would likely be considered marital property if it was purchased (not received by/purchased from funds received by gift or inheritance) during the marriage. Check the laws of your state regarding divorce/property distribution. * The names on the mortgage only indicate the persons responsible for the repayment of the loan. Ownership of any property is determined by how said property is titled. In community property states all property acquired during a marriage is considered jointly owned. In non-community property if the title does not contain both spouse's names state laws governing marital property take precedence, usually it will be resolved by equitable distribution.
No. In all states, the property cannot be taken if it was purchased before the marriage.
The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.
Tennesse is an equitable distirbution state. That means that the property is divided fairly, not necessarily evenly. Technically property acquired before the marriage is separate property, but any value increase in the property during the time of marriage is considered marital property. The court has alot of room in dividing property.
No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.
If the property was purchased during the marriage it is community property if you live in a community property state.
You must pay the mortgage or the lender will take possession of the property by foreclosure.
If you father granted a mortgage prior to transferring the property to you then the mortgage must be paid. If you don't pay it then lender will take possession of the property.
A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.
Commercial property mortgage rates are calculated primarily on the total value of the property being purchased. Other factors, such as down payment and interest rates will also affect the mortgage rate.