answersLogoWhite

0


Top Answer
User Avatar
Wiki User
Answered 2011-10-20 17:02:06

You AND your husband are the owners of the house. Should you divorce, you have an equal investment in the house. The mortgage is in your husband's name, but should he die, you are responsible for this bill. If you default on the loan, you will foreclose on the house. The mortgage company does not care who pays the loan off, as long as it gets paid.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Loading...

Still have questions?

Related Questions

Can Tenancy By The Entirety protect a home in Louisiana?

No. TBE does not apply in Louisiana as the state is a community property state.


Is Idaho Tenancy by the Entirety state?

No it is community property


Can a house be considered community property, if there is only one Name on the mortgage?

If you are married in a community property state, then yes, it is a community property. The mortgage is irrelevant - it is whose name on the deed that determines ownership.


If one partner in a marriage buys property without the other is it community property?

It is community property if you live in a community property state. COMMUNITY PROPERTY STATES • Arizona • California • Idaho • Louisiana • Nevada • New Mexico • Texas • Washington • Wisconsin


What states are community property states?

COMMUNITY PROPERTY STATES • Arizona • California • Idaho • Louisiana • Nevada • New Mexico • Texas • Washington • Wisconsin Alaska is an opt-in community property state; property is separate property unless both parties agree to make it community property through a community property agreement or a community property trust.


Is Louisiana a community property state?

Yes. In the United States there are ten community property states: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.


Is California a community property state How could you find out if your name is on a mortgage?

California is a community property state. If you are on a mortgage or loan agreement, you would have had to have signed the papers in the presence of the lender or an agent for it to be legal. You could contact the mortgage lender assuming you have that information, or get a copy of your credit report.


Is Texas a Tenancy by the Entirety state?

Texas recognizes "TENANCY BY THE ENTIRETY" only by mention in the BUSINESS ORGANIZATIONS CODE Sec. 152.052. and Sec. 252.001.However the concept is overridden by the inheritance laws / probate code and community property laws. In Texas inheritance of community property gives the spouse one half and the rest to other heirs unless it is "COMMUNITY PROPERTY WITH A RIGHT OF SURVIVORSHIP".In most states when the grantees of a deed are stated to be "Husband and Wife" a "TENANCY BY THE ENTIRETY" is created.In Texas "Husband and Wife" merely created community property.And does not necessarily do that if the grantor is one of the spouses and the deed does not declare and acknowledge the property to be community property with a notice of the effect of the document required by Texas Family Code.Utilizing both the identification of the grantees as "Husband and Wife" and declaration and acknowledgment of the property as "COMMUNITY PROPERTY WITH A RIGHT OF SURVIVORSHIP" provides the clarity needed.


Does Texas recognize tenancy by the entirety?

Texas recognizes "TENANCY BY THE ENTIRETY" only by mention in the BUSINESS ORGANIZATIONS CODE Sec. 152.052. and Sec. 252.001.However the concept is overridden by the inheritance laws / probate code and community property laws. In Texas inheritance of community property gives the spouse one half and the rest to other heirs unless it is "COMMUNITY PROPERTY WITH A RIGHT OF SURVIVORSHIP".In most states when the grantees of a deed are stated to be "Husband and Wife" a "TENANCY BY THE ENTIRETY" is created.In Texas "Husband and Wife" merely created community property.And does not necessarily do that if the grantor is one of the spouses and the deed does not declare and acknowledge the property to be community property with a notice of the effect of the document required by Texas Family Code.Utilizing both the identification of the grantees as "Husband and Wife" and declaration and acknowledgment of the property as "COMMUNITY PROPERTY WITH A RIGHT OF SURVIVORSHIP" provides the clarity needed.


Is Oregon a community property state?

No. In the United States there are ten community property states: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Alaska is an opt-in community property state; property is separate property unless both parties agree to make it community property through a community property agreement or a community property trust.


What does TE mean in real estate?

There are four forms of co-ownership for property. If you are planning on purchasing a home or inherited property with another, the property is owned as a tenancy in common, a joint tenancy, through community property or tenancy by the entirety. Tenancy by entirety is specific to married couples.


Is Massachussetts a community property state?

No. There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Puerto Rico is a community property jurisdiction.


What states are community property?

COMMUNITY PROPERTY STATES • Arizona • California • Idaho • Louisiana • Nevada • New Mexico • Texas • Washington • Wisconsin Alaska is an opt-in community property state; property is separate property unless both parties agree to make it community property through a community property agreement or a community property trust.


What rights do children have when the parent dies in Louisiana?

The laws of intestacy in Louisiana are unique. If you die without a will in Louisiana the laws of intestacy will distribute your property to your spouse and children. The division of the property depends on whether the property is separate property or community property. Community property is property that was acquired by a married couple during their marriage. Separate property is property that was inherited, owned before marriage, or gifts. Generally, the spouse receives no separate property. It passes to your children or grandchildren. The surviving spouse receives none of the decedent's share of the community property if the couple has children. Your community property will go first to your children. If you do not have children, your spouse will receive your community property. This comment addresses spouse and children only. For the full picture of intestacy in Louisiana an internet search will provide numerous articles and sites that discuss the details.


Is Louisiana a Tenancy By The Entirety state?

States that allow couples to own property through "tenancy by the entirety," a type of joint ownership that offers protection form creditors. States that allow tenancy by entirety: Alaska Arkansas Delaware District of Columbia Florida Hawaii Maryland Massachusetts Mississippi Missouri New Jersey Mississippi Oklahoma Pennsylvania Rhode Island Tennessee Vermont Virginia Tennessee Wyoming States that allow tenancy by entirety for real estate only: Illinois Indiana Kentucky Michigan New York North Carolina Oregon * No, Louisiana is a community property state. FYI, Holding any property as TBE is only available to married couples.


Is Oklahoma a community property state?

No. In the United States there are ten community property states: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.Oklahoma is not a community property state.


Is property acquired before marriage in a community property state considered to be community property?

Property acquired prior to marriage is separate property and remains separate unless the spouse is granted on title and contributes to the mortgage payments from community funds, then they acquire an interest in that separate property in proportion to their contributions. Paying insurance taxes, utilities is not considered a basis to make the property community.


Does California still recognize community property?

Yes. California is a community property state. COMMUNITY PROPERTY STATES • Arizona • California • Idaho • Louisiana • Nevada • New Mexico • Texas • Washington • Wisconsin Alaska is an opt-in community property state; property is separate property unless both parties agree to make it community property through a community property agreement or a community property trust.


Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?

Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.


In Georgia is tenancy by the entirety a valid method of holding property?

No. Community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington State, Wisconsin. Wisconsin is not considered a "true" CP state as it defines marital debts differently than do the other eight CP states.


Can an ex wife place a mortgage lien on the property if she already quitclaimed her interest in the property?

No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.No. Only the owner can grant a mortgage on a property.


Can a husband buy a house without his wife's consent?

In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.In a separate property state, yes. There may be problems in a community property state not with consent but with your wife obtaining an ownership interest by law. If you need a mortgage in a community property state your wife may need to sign her consent. You should obtain legal advice for your state before you buy.


Does you spouse name have to be on a mortgage?

All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.


Is Vermont a community property state?

No. In the United States there are ten community property states: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. No. In the United States there are ten community property states: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.


Is pennsylvannia a community property state?

There are nine community property states. Pennsylvania is not one of them. They are: Arizona Californa Idaho Louisiana Nevada New Mexico Texas Washington Wisconsin