Legal Question in Real Estate Law in Florida
wifes bad credit
Buying home with my credit only.can i leave wife off title so home is protected if she has judgement brought against her is this the way to handle this?
Asked on 5/11/09, 5:30 pm
1 Answer from Attorneys
Jean Winters
Winters & Winters, PA
Re: wifes bad credit
No. Even if your wife is not on the deed, a lender will most likely require your wife to execute the mortgage. In Florida, a married couple taking title to property, unless otherwise specified, takes title by tenancy by the entirety. A tenancy by the entirety would protect both of you as to other judgments (not mortgage foreclosure). In a tenancy by the entirety, a judgment against one is not a judgment against both. This protection does not extend to IRS liens. (Transfer of assets to avoid federal taxes poses an entirely different problem.)
Answered on 5/11/09, 7:34 pm
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