What is my husband’s liability for my debts?

UPDATED: Apr 12, 2012

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What is my husband’s liability for my debts?

I own a mobile home with land in my name. I have been trying to sell but I owe more than it’s worth. My husband wants to buy another home in his name. If we buy another home in his name and try to rent and are unable to and can’t pay the mortgage on the mobile home can I do a short sale? Will they try to make my husband pay if it’s not in his name. Not sure what my options are?

Asked on April 12, 2012 under Real Estate Law, South Carolina


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

Answered 10 years ago | Contributor

I am going to assume here that the land and the mobile home were purchased prior to marriage and are separate property.  Now, anthing that is purchased during the marriage with marital funds (and money eared during the marriage or money that has become marital since the marriage such as co mingled funds) is marital property regardless of whose name it is in.  Will a creditor be able to attach it if it is in your husband's name only?  Maybe.  Maybe not.  A short sale may be a good idea but you need to make sure that the bank waives any "deficiency" - the amount owed after the sale on the mortgage.  I can not tellyou how to circumvent the law and your obligations.  But you can structure the new property to protect it and you from creditors.  Do so with an attorney in your area.  Good luck. 

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