Legal Question in Family Law in Florida
divorce and real estate law
I am trying to come to a settlement with my wife for divorce. I need to know if I give her the house and the boat($80K) and its decreed that she has all interest in both, can the mortgage companies come after me if she doesn't make payments on either/ files bankruptcy?
3 Answers from Attorneys
Re: divorce and real estate law
if you signed the mortgage note, yes.
Re: divorce and real estate law
Very simply yes. Your attorney may be able to help you lessen the problems.
Re: divorce and real estate law
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Yes, if you signed the promissory notes for both the house and boat, then you are responsible if she defaults. The lenders are not a party to your divorce and will not release you just because you give the items to your wife. Your best scenario would be to get your wife to refinance both items as part of your settlement to remove your liability if that is feasible.
Scott R. Jay, Esq.