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Is your home part of your estate?
If you own your home at the time of your death it will become part of your estate. If the title is held jointly with another person the title will pass automatically to that person at the time of your death and the home will not become part of your estate.
Can a lien be placed on your home for credit card debt if it is jointly owned and the other party is not responsiblbe for the debt of the cards?
yes
How many federal home loan banks are there?
There are 12 Federal Home Loan Banks. They are owned by member institutions including savings and loans, commercial banks, savings banks, etc. The Federal Home Loan Banks serve as whole sale lenders to their member institutions. If you'd like to learn more about the Federal Home Loan Banks, take a look at the book, Mission Expansion and the Federal Home Loan Banks (SUNY Press, 2010).
If you have good credit and your husband has bad credit and you own your home jointly can he declare bankruptcy independently?
Yes. Generally one spouse can file bankruptcy without the other spouse having to file even when real estate is jointly owned. Sometimes if there is substantial equity in the house this can be problematic, but most states have exemptions which protect residential real estate owned by spouses when only one spouse files bankruptcy (called the "Tenancy by the Entireties" exemption), so this usually isn't a problem. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
If married and one spouse takes out a mortgage on their home without the other signing for the loan then he passes away can the lender force the surviving spouse out of the home?
Generally, no. This is a complicated situation and the answer depends on various details.If the property was jointly owned all the owners of the real estate must sign the mortgage so that in the case of a default the lender can take possession of the property by foreclosure. If one owner didn't sign, the lender could only take possession of the interest of the borrower who did sign.If the property was owned by survivorship and the single mortgagor died, full ownership may pass to the surviving owner and the bank would be out of luck. You should consult with an attorney who specializes in real estate law immediately. She must review the title to the premises and then will be able to explain your rights and options.
Is your home part of your estate?
If you own your home at the time of your death it will become part of your estate. If the title is held jointly with another person the title will pass automatically to that person at the time of your death and the home will not become part of your estate.
Can a husband have access to a jointly owned home after he walked out two years ago?
Theoretically, yes. Unless you filed for legal seperation, then he would have legal access to jointly owned property. You can file a restraining order, however.
Why would a spouse be considered a secondary owner of real estate property?
Either because they jointly participated in the purchase or jointly obtained a loan on the home, or because the home is located in a community property state.
If your ex spouse has a lien on a home you own jointly and he dies does the survivor owe the lien to the estate?
Yes because there is no one else to take the home.
Can a lien be placed on your home for credit card debt if it is jointly owned and the other party is not responsiblbe for the debt of the cards?
yes
Can you put a lien on someone's home that is owned jointly and they are going through a divorce?
The number of people that own a home and what goes on between them does not affect the placement of liens.
What type of tax must be paid if owning a home?
Property taxes or real estate taxes on the home that is owned.
Can your home be garnished if jointly owned by your wife?
A home cannot be garnished. Your wages or bank account could be garnished. Your home would be liened. Whether or not a lien can be placed depends on who is seeking funds from you and why.
How does probate handle the sale of a home?
If the person who owned the home is now deceased, that person's estate must be probated before the home can be sold. Probate is what authorizes someone representing the estate of the deceased person to sell the home.
In MA is a home considered an estate upon death of a spouse?
If the property was owned by the couple as joint tenants or tenants by the entirety the decedent's interest passes automatically to the surviving spouse and is not part of the probate estate. If the property was owned solely by the decedent it becomes part of the estate.
Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
Can the estate pay for structural termite damage to the home the deceased owned and is willed to you?
There is no requirement that the estate do so. It could be done depending on the will and the number of debts involved.
