QUESTION
Can a lien be put on a house that I own with someone whom isn't my husband?
Asked on Dec 26th, 2012 on Foreclosures - Wisconsin
More details to this question:
I am currently in a relationship. We have an understanding that a legal marriage isn't important. He recently decided to purchase a foreclosed home. I do not work, and he does. He wants to add my name as a secondary on the home, which is fine as me. My concern is, if I default on my student loans, will the debt collector be able to put a lien on the house that would be jointly shared, even though we aren't married.
7 ANSWERS
Yes, they can. If you own the home 50-50 with your boyfriend, the lien affects your half, not his. Foreclosure isn't an option. How can you sell half a house? But, in the future, if you sell and are due to get proceeds from the sale, your creditor gets all funds due to it before you will see a dime.
Answered on Jan 03rd, 2013 at 1:38 PM
Insurance Attorney serving Redlands, CA
at
Orrock, Popka, Tucker & Dolen
Update Your Profile
If you hold title to property, even if it is only partial ownership, a judgment against either of you filed with the County Recorder's office places a lien on that property. Being married has nothing to do with it. If you were married the question would be whether it is community property. However, non-married persons often own property with others, usually as joint tenants.
Answered on Jan 03rd, 2013 at 1:37 PM
Richard hirsh
The short simple answer is yes. A creditor can obtain a judgment against you and and attach a judgment lien to any real estate interest you hold.
Answered on Jan 03rd, 2013 at 1:37 PM
Tax Problem Resolution Attorney serving Lake Oswego, OR
at
THE WUHRMAN LAW FIRM
Update Your Profile
Yes, a debt collector can put a lien on any property which is in your name. Of course, they must first sue you and get a judgment before they can put a lien on anything.
Answered on Jan 03rd, 2013 at 1:37 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
Update Your Profile
You need to find out what the exemptions are in the state where you live. Each state has a different list so I cannot help you with any exemptions but Arizona.
Answered on Jan 03rd, 2013 at 12:47 PM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
at
Love and Dillenbeck Law
Update Your Profile
In North Carolina, if a creditor obtains a judgment against you, a lien is automatically placed against any real property (houses and land) you own. The only exception is if you own a home with a spouse and the judgment is only against one person. Here, if you are adding to the deed, and the student loan creditors get a judgment against you, they wll have a lien against the home.
Answered on Dec 31st, 2012 at 2:35 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
If at some time in the future a creditor obtains a judgment against you, the judgment, once docketed, becomes a lien on your interest in real estate for ten years. So it might indirectly have some adverse effects on your significant other, but the lien itself attaches only to your interest in the property. If you are having trouble keeping up with student loan payments, you might want to contact the student loan people and ask for reduced payments, or payments measured as a percentage of your income.
Answered on Dec 31st, 2012 at 2:34 PM