Legal Question in Real Estate Law in Florida
If a couple decides to keep the properties they purchased prior to their marriage separate & one of them signs a loan modification during their marriage, would the spouse that didn't sign the loan modification be held financially liable just because they are married?
Asked on 12/22/17, 3:40 pm
1 Answer from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
If you own the property individually and sign a loan medication individually, then the spouse is not responsible on the mortgage. Marriage does not create that responsibility alone. You would need to sign something stating you are assuming responsibility and the bank would need to rely and/or add that info to the mortgage itself.
Answered on 12/23/17, 10:02 am
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