Legal Question in Family Law in Ohio
Mortgage obligation after divorce
My former wife and I purchased a home for which we obtained a mortgage in both our names. The separation agreement for my divorce stipulates that the marital residence be sold. Until the house sells, my ex-wife may continue to live in the house and I must continue to pay the mortgage, real estate taxes and homeowners insurance. The house is still on the market and may take a while to sell. Meanwhile, I remarried and purchased another home with my current wife. My question is this: If I die or become disabled and am unable to work, does my current wife assume any responsibility for the mortgage payments of my ex-wife's home?
1 Answer from Attorneys
Re: Mortgage obligation after divorce
I believe the home would be considered a premarital asset. Therefore, the home would not be a liability to your new wife. The equity in the home would not be considered an asset either.
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