Is a party responsible for their portion of the mortgage if their name is on the loan?

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Is a party responsible for their portion of the mortgage if their name is on the loan?

My mom and I purchased a home together last year. She now is getting remarried
and is moving out at the end of the month. Is she still legally responsible for
her portion of the mortgage since her name is on the loan?

Asked on September 5, 2017 under Real Estate Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Yes and no. Yes in the sense that if she does not pay her share, the other mortgagors (i.e. you) could sue her for her share. No, in that the 1) the bank does not come after her for her share--the bank holds each of you liable for the whole amount, only cares that it gets the whole amount each month, and does not care about how you internally split it up; and 2) if the whole amount (not just your share) is not paid, the home can be foreclosed on. So yes, you can hold her accountable for her share, but *you* have to do, via a lawsuit if necessary; the bank does not enforce the division of the payments for you.


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