Legal Question in Family Law in Pennsylvania
I acquired a home through a divorce degree during my first marriage. I am looking to assume the loan because the bank refused to remove him from the loan. I remarried, he remarried twice. I want to assume the loan but do not want my new husband to have access/ rights to the property. I want the home to be mine alone. Will an assumption of a mortgage from a previous marriage become marital property in the new one? In PA my new husband is entitled to 50% of all marital property. I acquired this home almost 20 years before knowing and do not want to go through this again. I cannot re-finance due to certain financial reasons. If I can't assume, I will have to sell.
1 Answer from Attorneys
No since you were deed the house as an unmarried woman it stays that way even if you refinance the house assume the mortgage. Even if the house were to be marital property he's not entitled automatically to half. He might be entitled to more he might be entitled to less that would be up to a divorce master. However, if it's not marital property it's all yours.
Actually leaving him on the loan is his problem not yours. If you default they'll come after him. I would think he would do anything so that doesn't happen.
{John}
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