Legal Question in Family Law in Massachusetts
Going through a divorce through mediation and husband wants the following added "Should the Wife obtain an equity loan that encumbers the marital home, the loan amount shall be deducted from the Wife�s equity portion, and not from that of the Husband. Of course, the Wife shall be solely responsible for payment and payoff of the equity amount. If necessary, the Husband shall cooperate should his signature be needed on any equity loan the Wife applies for. Husband has name on deed only but not 1st or 2nd mortgages. We currently have "By mutual agreement, the marital home equity shall be split equally (50-50) at the time of refinancing or sale. Is it reasonable to add that we both have to agree to an equity loan so that I am not forced to get one?
2 Answers from Attorneys
I don't see anything in the Husband's proposed language that will require you to get a home equity loan. The language that you set forth seems pretty reasonable to me. I recommend that you consult an attorney to assist you in the mediation as a mediation coach. This is the sort of decision that you should make after sitting down with an attorney who can explain your choices.
I agree with Attorney Roth. No reputable attorney can put his or her stamp of approval on isolated copied text from an Agreement. You have the right to have your agreement reviewed by an Attorney before you sign it. You are also entitled to have representation and legal advice, even while you engage in the mediation process. Good luck, and feel free to reach out if you would like some confidential legal advice.
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