Howd o I protect myself regarding ad ivorce and foreclosure?

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Howd o I protect myself regarding ad ivorce and foreclosure?

I am being awarded the marital residence in my divorce. My spouse is taking the mortgage and the home has been refinanced in my spouse’s name only. Is the Deed of Trust to Secure Assumption the proper document to protect myself from my spouse defaulting and foreclosure by the mortgage company. If not, how do I protect myself?

Asked on August 11, 2012 under Real Estate Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Please, please, please see an attorney in your area as soon as possible.  You get the house; spouse gets the debt?  This is a recipe for disaster and all you are going to do is pay lawyers and be back in court to enforce the agreement every time he misses a payment.  If he defaults then you will lose the asset.  He/she controls it.  You are getting divorced.  You do not want this type of attachment any more.  Get help.  Good luck.


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