If my mom gets me a loan to buy a house and she is married and something were to happen to her, would the loan fall back on her husband?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my mom gets me a loan to buy a house and she is married and something were to happen to her, would the loan fall back on her husband?
Asked on August 20, 2015 under Real Estate Law, Pennsylvania
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
Not directly one person does not become liable for a loan without signing for it or agreeing to be obligated to, even if he is married to the person who signed for the loan.
Indirectly it could have significant affect if/when your mother dies, the loan she took out will typically become due. It will then become a debt of her estate. Her creditor could sue the estate for the money any money which the creditor recovers from the estate is money that will not then go to her heirs or beneficiaries, which would presumably include her husband.
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.