Can a wife be responsible for a new loan home loan in the event of divorce if she doesn’t sign it?
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Can a wife be responsible for a new loan home loan in the event of divorce if she doesn’t sign it?
We’re seperated and I’m disabled so I can’t work.
Asked on April 12, 2017 under Family Law, Pennsylvania
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
A loan is essentially a contract. Like any contract, it only binds people who agree to be bound; i.e. who sign it. If the wife is not a signatory to the loan, she is not responsible for it. If she agrees to take responsibility, such as part of a divorce settlement or agreement, then she could likely refinance iton her her name; but again, she has to agree to bound.
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