Legal Question in Family Law in Kansas
divorce
both our names are on the mortgage loan. I no longer live in the house. Wll the house be sold? What am I entitled to? Equity?
1 Answer from Attorneys
Re: divorce
It is common that both names appear on the mortgage. The important thing to remember is that the mortgage company is not a party to your divorce. Even if the court orders one party to pay the mortgage, the mortgage company can still pursue both parties. That is why it is important to have an experienced family law attorney assist with the divorce paperwork. There are steps that can be taken to protect both parties. Whether the house is sold depends on the parties' overall financial picture. Often, refinancing is involved, which allows one party to remain in the house while the other party receives his or her equity value. If one party signs a quitclaim deed, it does NOT release them from the mortgage obligation. We are here to help.