January 23rd, 2011 by Questions
My husband bought a house with the mortgage only in his name. They lawyer made me put my name on the deed when we took possession as it was a marital home. My husband and I are no longer living together but not officially seperated or divorced. He told me he was going to let the house go into foreclosure and claim bankruptcy. Will I be responsible for that debt as my name is on the house but not the mortgage? Will I then have to claim bankruptcy?
Posted from: Ontario
One Response to “house foreclosure”
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January 24, 2011 at 9:50 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you are not on the mortgage there shouldn’t be any reason you need to file for bankruptcy. The only issue you might run into is if there is outstanding property taxes you may be responsible for a portion of that. But to be responsible for the mortgage you would have had to sign the mortgage.