Legal Question in Real Estate Law in New York

quity loans

can one patry in a marriage take out an equity loan on a jointly owned house without the spouses signature?


Asked on 7/05/07, 8:51 pm

2 Answers from Attorneys
Johm Smith tom's

Re: quity loans

Banks and other lenders want to avoid complications and usually require that both spouses sign, but this has been known to happen. You will need to contact the lender and let them know you didn't consent to the loan but that will probably not change anything. It simply helps you maintain a record of what was happening if you end up in divorce.

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Answered on 7/06/07, 9:12 am
Robert R. Groezinger GroezingerLaw P.C.

Re: equity loans

The lender will usually require all persons in title or on the deed to sign documents.

Good Luck

RRG

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Answered on 7/05/07, 10:29 pm


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