Legal Question in Family Law in Missouri
a couple owns two houses but one is used as collateral for the other , if they divorce would a judge seperate the houses so each person could have one
Asked on 5/01/10, 12:46 am
1 Answer from Attorneys
Anthony Smith
LawSmith
In a divorce, a judge can give each spouse one of the homes. However, this would not effect the lender depending upon one of teh houses as collateral for the loan on the other. If the spouse fails to pay for the house, the lender coudl forecloase on it and the other house. The innocent spouse would after go after their ex spouse for recompense.
Answered on 5/07/10, 5:05 am