Joint liability on a mortgage when only 1 person resides there.

hi robba,

if you just leave the house, then you are still liable to pay 1/2 of the house bills. however, in case you have quitclaimed the property to the person living in the house and also transferred the mortgage, if any, through novation or refinancing, then you are nor liable to pay 1/2 of the house bills.

Hi Robba,
If you mean half the house bills as in utilities, then no they are not responaible. If however you're talking about the mortgage, then yes they would be as financially responsible for the payment as you are.

Hi Robba,
If you mean half the house bills as in utilities, then no they are not responaible. If however you're talking about the mortgage, then yes they would be as financially responsible for the payment as you are.

when a person signs a mortgage note, that person is 100% liable for payments. if two people sign a mortgage note, each person is 100% liable for payments.

to anticipate that a person leaving a relationship and a home in which he or she has an ownership interest would continue to contribute toward the mortgage payments is to expect the unexpected. most people moving out are not at all likely to continue to contribute.

what you're facing here is a matter of negotiation, truly. each of you is responsible for the whole payment, so "fairness" needs to be worked out.

with mortgage values down 20% thus owe more than house value: can not refinance. payments current. how can the person staying in the house (making full payment) protect themselves when other moved out? person left will not sign quickclaim or take $ to settle. is based on house value at time split? or can they come back years from now for then value? say the one who leaves files bankrupcy or has a lawsuit? what protects the one in the house meeting bills? appreciate feedback.

Hi angel,

Welcome to forums.

If the person who left the house, remains on the deed, then he can come and claim the property at any point of time. If that person includes this house in the bankruptcy, then you may lose the house. Or the lenders may even place liens on the house.

You can avail the option of the Partition law suit. This law suit helps in forcefully selling off the property. You will have to inform the lender that you are filing a Partition law suit. Then you can pay off the mortgage by the sale of the property. Here you should keep in mind that the other person can come and ask for the sale proceeds but as mortgage is a financial obligation, you will have to pay it off first. I hope this will help you.

Thanks.

My fiance recently passed and both of us were on the deed, he was the only one on the mortgage note. Can the bank come bank and file a lawsuit for a deficiency judgement although we've agreed to a judgement in rem.

the question isn't whether or not someone is physically living in the house, it's about who's bound by the mortgage. If you're both ion the mortgage then you both have a liability to pay it. other bills like power, phone etc you need to sort out between yourselves, but the mortgage needs to be dealth with differently.

It makes no difference whether you're living there or not - if you're on the note you're liable.

does it make a difference if you are in a lawsuit and your home is attached for car accident injurys to have a morgage or not to have a morgage. My friends says it is not good to pay off a morgage in case of a law suit

You will be liable for paying off the mortgage whether or not there is a lawsuit against your name.

Regardless of your relationship status, the lender will pursue both parties for the debt in a joint mortgage. One late payment on the joint mortgage, no matter which one of you failed to do so, can cause damage on both your credit ratings. If you both want off the hook, sell the house. For the individual who wants to keep the house, refinancing will modify the loan's "joint" status to single-owner property.

These threads get too convoluted when people begin asking off-topic questions. I can't even comment.

Yeah, I guess I just did.

i am in a situation, unmarried, house is for sale, neither of us live in it, joint mortgage, one person on the mortgage wants to file for chapter 7 bankruptcy (not me, other person on the mortgage). what happens to me? am i now fully responsible for the mortgage? do the creditors take the property? how does it work?

Hi Jen,

Once the other person files bankruptcy and gets a discharge from the mortgage payments, you will become fully liable for the mortgage payments. The lender will come after you in order to recover the mortgage dues.

Thanks