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When a former spouse dies does the ex spouse whose name is on the mortgage become the sole owner of the property?
Wiki User
∙ 15y ago
No, a person whose name is on the DEED may become the sole owner. The person whose name is on the MORTGAGE may have the priviledge of making the payments! Better contact the lawyer who handled your divorce for some advice.
Wiki User
∙ 15y ago
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Can you get a home equity loan after you are divorced but still on the mortgage?
If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.If you and your former spouse still own the property you can get an equity loan if both parties consent and both sign the note and mortgage.
In Florida if your parents are refinancing would your spouse need to sign the mortgage?
Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.
What is the cost to add a spouse to your mortgage?
A spouse is not added to a mortgage; if the spouse already owns an interest in the property through deed or community property, then the spouse is subject to the mortgage, regardless of whether or not he or she signed it. Note, however, that many mortgages contain "due on sale" clauses which require the mortgage to be refinanced if there is a change in ownership of the property. Contact your bank to see if your loan contains such a clause.
Does a spouse have to sign the mortgage in a non community state?
Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.
Only one spouse on mortgage are both responsible for foreclosure?
No. Both may be on the deed which means that you have rights to the property. However, if there is only one on the mortgage; meaning they are the only one that signed the promissory note, then they are the only ones who will be responsible. So long as you are not on the note to the mortgage, then you have no responsibility for the debt.
Who is the owner of a home if only one spouse signs the mortgage?
The owners of any property are the grantees listed on the current deed. The property may be subject to a mortgage if any owner granted a mortgage to a lender.
Will your spouse's credit score be affected if your individually owned property is foreclosed spouse's name is not on the deed?
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
Can you remove your spouse's name from the property if separated?
No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.No. You cannot remove a spouse's name from a mortgage or a deed. If you want their interest in the property they must execute a deed voluntarily, transferring their interest to you. You may need to buy them out.
How much will it cost you to remove spouse from mortgage?
A quit claim deed will be rather inexpensive. However, the spouse can require payment to sign the agreement. You cannot remove them without their agreement and consent.Another PerspectiveA quitclaim deed will transfer the interest of the spouse in the property but will have no effect on the grantor's responsibility to the lender or the mortgage. Generally, the mortgage must be paid and refinanced in order to remove a spouse from any responsibility for paying the mortgage.
One spouse is on the mortgage and wants to claim bankruptcy. The other spouse's name is on the deed. What happens when the first files for bankruptcy?
It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.It sounds like your name was on the deed, you mortgaged the property then you conveyed it to your spouse thinking to effect a change in ownership free of the mortgage. You can't do that.A conveyance to defraud your creditor will be "undone" by the court. Also, if you did transfer ownership subsequent to granting a mortgage the transfer is subject to that mortgage. Your bankruptcy won't simply wipe out your mortgage and make the property free and clear since you transferred it to your spouse. In addition, the bank can demand payment in full under the "due on transfer" clause in the mortgage. You have a tangled web and you should consult with an attorney who specializes in bankruptcy.
Is surviving spouse responsible for a mortgage that was solely taken out by the deceased spouse?
If the person wishes to keep the residence then he or she will need to reaffirm or assume the loan with the mortgage holder. Real property debts such as homes and vehicles are not treated the same as unsecured debts when it relates to the death of the account/property holder.
If only one spouse holds title to property in Florida does the other spouse have interest in property as well even though they are not in title?
In the case of divorce, that property may be added to the assets and then divided. If the property is subject to a homestead exemption the spouse must sign a mortgage or deed. See related links for more information.
