Legal Question in Real Estate Law in North Carolina

My exhusband and I still co-own a home. It used to be rental property, but now he lives there. He pays me the money for the mortgage, which is in my name only. He couldn't get a mortgage in his name to take the property over. He now has a $30,000 judgment against him for medical debt (occurred after our divorce). Can they "take away" the property while the mortgage is still owed to the bank ? Can they take away my portion of the home/equity ?


Asked on 3/08/11, 9:45 am

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

They can't take away your portion - they can go after his 50%. But they would have to serve him with a notice of rights to designate exemptions before they can execute on the property. He has 20 days to respond to that and he is entitled to protect up to a certain amount in equity- up to $35,000.00. When asked the fair market value on the form, I would put 50% of whatever it is (and note than he only owns 50%). After that, he would put the lien amount.

Here is a link to the form - http://www.nccourts.org/Forms/Documents/927.pdf

Again, he needs to be served this form by the creditor and return it within 20 days to the court. If he doesn't do that, he waives all his exemptions.

- Jeff

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Answered on 3/08/11, 10:41 am


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