Legal Question in Real Estate Law in New Jersey
homeownership
If a couple buys a home, however either one of the spouses could not be on the loan due to a bankruptcy, could spouse still be on the deed? Couple still married, never separated; spouse had to file for Chapter 7 that is the reason for non being on loan for the mortgage.
Is there any loss of rights for the spouse that is not on the loan?
Thanks for your help.
1 Answer from Attorneys
Re: homeownership
Not only is there no loss of rights, there is an additional benefit to the spouse that is not on the loan in that that spouse is not obligated to repay the money. There is no prohibition against that spouse from being on the deed. This is an unusual situation, but it does occur. I am not quite sure what the legal problem is here. However, if you want my assistance, feel free to call me at 856-546-8010. Good luck!
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