What is my husband’s liability for a deficiency judgement regarding property solely in my name?

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What is my husband’s liability for a deficiency judgement regarding property solely in my name?

About 2 years ago I lost my job. Now we are struggling to make house payments. If we let the house go back to the bank will they go after my husband even though his name is not on the lien?

Asked on December 29, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your husband's name is not on the loan secured by a trust deed on your home and assuming the home is lost in foreclosure where there is a deficiency judgment, he will not be personally liable for it.

However, possibly neither will you if the loan you are writing about is purchase money, the home is your personal residence and your state has anti-deficiency legislation for purchase money loans. I suggest that you consult further with a real estate attorney.


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