Legal Question in Real Estate Law in New Mexico

I have filed a foreclosure, how will this affect my future spouce financially? How will this affect our taxes if we do get married do I file married filing separate? And one more question? Should I keep my maiden name or will it be ok for foreclosure reasons, I do not want his name on any foreclosure documents.


Asked on 3/16/11, 10:08 am

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

I am not sure I understand your question. When you say you have filed a foreclosure does that mean you are foreclosinig on someone else's property? Or has a lender filed a foreclosure suit against you?

If you walk away from the property and the property is worth less than the outstanding debt, then if the bank does not chase you for a deficiency judgment, you will have income from discharge of indebtedness. If you file jointly, your spouse would be jointly liable with you for the taxes on that income.

Assuming your spose is not currently on the loan, this should have zero effect on him.

Continued use of your maiden name does not make a difference legally.

Don't worry about my address; I am NM Lawyer # 27248 and I spend half of my time in Santa Fe :-)

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Answered on 3/16/11, 12:53 pm


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