What is my husband’s liability for a deficiency judgement regarding property solely in my name?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What is my husband’s liability for a deficiency judgement regarding property solely in my name?
About 2 years ago I lost my job. Now we are struggling to make house payments. If we let the house go back to the bank will they go after my husband even though his name is not on the lien?
Asked on December 29, 2011 under Real Estate Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your husband's name is not on the loan secured by a trust deed on your home and assuming the home is lost in foreclosure where there is a deficiency judgment, he will not be personally liable for it.
However, possibly neither will you if the loan you are writing about is purchase money, the home is your personal residence and your state has anti-deficiency legislation for purchase money loans. I suggest that you consult further with a real estate attorney.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.