Legal Question in Family Law in New York
I am currently going through a divorse and there is a house that was bought during the marriage. My name is on the deed but the loan for the house is solely in my soon to be exwifes name. Am i responsible in any way for this house?
1 Answer from Attorneys
The court will determine if you will responsible for all or a part of the mortgage or if your name will be taken off the deed. If your wife isn't entitled to support and the court does not order you to pay for all or part of the mortgage you won't be responsible to the bank. Moreover, the mortgage company cannot come after you if she defaults on the loan.
Nevertheless, if you aren't taken off the deed, you are part owner of the house. As a result, if someone gets hurt on the property, they can come after you. Also, there is property tax liability, etc., etc. Talk with a lawyer to determine the pluses and minuses of staying on the deed.
Also licensed and practicing in New York.