Legal Question in Real Estate Law in Virginia

Re: Real Estate and Mortage

Most probably, if your husband should at some future time be able to lay some marital claim to any equity in this property which might accrue, by signing the waiver he would forfeit his right to claim up to $5K(homestead exemption)of such equity.

Re: Real Estate and Mortage

I would imagine from what little information you have given that the mortgage is secured by real estate and either your husband is a co-owner, or the mortgage lender is concerned that your husband might have a claim on your real estate by virtue of being married to you. Even if he is not on the title to the deed, the laws governing marriage and divorce might automatically give him some rights to the property. Mortgage lenders often do not set their policies individually for each State, but set generic policies nation-wide.

So they are asking your husband to disclaim any claim on the real estate that might interfere with the mortgage lender's security interest.

In that sense, they are asking your husband to certify that he is not objecting to the loan.

You might get a different result from a different mortgage lender, if you own the real estate 100% in your own name and you can show them that he should not have any involvement in the real estate.

If you don't pay the mortgage, the lender wants to be able to foreclose on the property without any obstacles.