QUESTION
I'm buying a house with only my name on the loan, but my husband will be on the title. If we divorce, what will happen to the house?
Asked on Mar 06th, 2018 on Divorce - Florida
More details to this question:
I'm a first time home buyer in Florida. My husband recently had a job change and is now considered an independent contractor. His income can not be considered for the mortgage loan since he hasn't been am IC for at least 2 years. However, his name will be on the title. If we ever divorce, what will happen as far as the house? If I choose to continue to live in the house after the divorce, can I have his name removed from the title? Would it be possible for him to decide not to sell, remain in the house, not make payments and, thus, ruin my credit? We do not have any kids together. We have seperate bank accounts.
1 ANSWER
If you buy anything during the marriage with money that you recieved during the marriage or from a joint account, you and your husband are joint owners. It doesn' t matter if his name is on the deed or the note. It is considered a marital debt (the mortgage) and a marital asset, (the house.) If you divorce, it is a marital asset. He can refuse to sell but you can petition to partition the house.
Answered on Mar 27th, 2018 at 2:55 PM
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