guru1000
Master Don Juan
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- Sep 20, 2007
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Herein is another problem with divorce proceeds. IF a judge awards a spouse the house, and the deed in in both spouses' names, and in most cases there are delinquencies in the mortgage spawn by the divorce (thus the spouse awarded the house is unable to refinance to get remaining spouse's name off the mortgage), the remaining spouse will remain on the mortgage but removed from the deed (thus no longer owner of the asset). The remaining spouse, then, is legally liable for the debt for an asset he/she no longer owns until the spouse awarded the house refinances under their name solely, which could be never!MatureDJ said:I am curious if this is the standard way a divorce proceeds. I was always under the impression that in a divorce, the disposition of the home was always part of the negotiation - and that if an agreement cannot be made, either party can force the home to be sold, unless because of children, the family judge can force the non-custodial parent to continue to provide for the home.