Posted on: 21st Dec, 2011 12:26 pm
Hello, I live in Florida and my wife and I have been separated for 9 months. We are not divorced yet, but my wife decided to buy herself a house, and now she want me to sign the mortgage deed.
Should I do this? She wants be to believe that I will never have any financial responsibility in the the whole deal, but I find it hard to believe.
Thanks
Should I do this? She wants be to believe that I will never have any financial responsibility in the the whole deal, but I find it hard to believe.
Thanks
Welcome edvonseggern,
I don't think you should do this as both of you are separated now and may be in future you will divorce each other. If you sign the mortgage deed, you will remain liable for the mortgage payments. Also, if she misses the payments, then it might have a negative affect on your credit report.
I don't think you should do this as both of you are separated now and may be in future you will divorce each other. If you sign the mortgage deed, you will remain liable for the mortgage payments. Also, if she misses the payments, then it might have a negative affect on your credit report.
If you live in a community property state, then she is probably referring to the interspousal transfer deed, which is basically you are relinquishing your rights to the property in question. If you are not on the loan, and not on title, you are not an owner, nor liable for the debt. If the court orders you to pay this mortgage for one reason or another, then you have a problem. I would get the divorce completed first.
