If the judge grants my husband one of our homes and wants me to sign a grant deed over to him and he defaults on the mortgage payments and my name is still on the loan will it affect me and my credit or does he have to get a new loan with my name off the old loan. Thank you
Answered on: 12/12/12, 9:09 am by Bryan Whipple
This is a dissolution of marriage, right? A property settlement created or approved by the judge should divide all of the former spouses' community assets and liabilities. The court must award assets and at the same time assign liabilities. If the home and its associated financing are not community property but are held as tenants in common or joint tenancy, they still can be divided at the request of either party. See Family Code section 2650.
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Bryan R. R. Whipple, Attorney at Law P O Box 318 Tomales, CA 94971-0318► Other answers from this attorney