Legal Question in Real Estate Law in Georgia
line of credit responsibility
Am I responsibe for a line of credit my joint owner/husband got using our home/property as colateral and never got my signature? I found out about this after he was killed.
2 Answers from Attorneys
Re: line of credit responsibility
If you didn't sign you're not personally responsible. But, if your husband put your jointly owned property up as security for the loan, the creditor could collect the debt through a foreclosure.
Re: line of credit responsibility
We do not have the documents, and you provided virtually no information. Usually, people are not personally responsible a debt like that if they have no knowledge and do not sign, but that is a different issue than whether the lender can seek repayment out of its collateral (ie, foreclose on the property if not paid).
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