Legal Question in Real Estate Law in Pennsylvania

Waiver of Homestead, Dower, and Curtsey

Living in Pennsylvania, looking to get a Home Equity Line of Credit (would be a second mortgage) on my home (single family residence, already has mortgage.) My wife is on the DEED but *not* on the mortgage note. She will not be a borrower on the home equity note but will obviously need to agree to terms since she is on the deed.

The Line of Credit application states the following:

Waiver of Homestead - Borrower hereby waives all rights of homestead exemption in the Property and releases all rights of dower and curtsey.

What does this mean? If I die, does the bank get to keep the house and leave my wife out on the street? Or does it just mean that if I die she just can't take ownership of the house and ignore the debt owed? Or does this even apply since her name is on the deed?

Thanks for any advice on this, I appreciate this service and your time!


Asked on 1/26/05, 1:08 pm

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Waiver of Homestead, Dower, and Curtsey

In the event of your death, your wife would not get good title unless the note was paid. She could not defeat the lender's obligation and succeed to title.The lender will insist that she join in the obligation. The sentence refered to will not effect your wife's interest. Suggest you get legal counsel, if you have questions.

Gerald Hershenson Esq. 215-579-9390

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Answered on 1/26/05, 1:44 pm


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