if i cosign for my son house and he gets a divor who house is it
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if i cosign for my son house and he gets a divor who house is it
Asked on June 15, 2009 under Real Estate Law, Louisiana
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
The house will belong to whichever side the divorce court awards it to. However, in most states, the fact that you are on the mortgage would make it difficult to have your son's future possible ex-wife get the house; if there were no other way to deal with it, the house might have to be sold to pay off the loan you signed for, and that would be that.
I hope it doesn't happen. But for advice you can rely on, you need to talk to an attorney in your area. If you are thinking about doing this, and worrying about the worst-case future, there may be a way to protect your interest, if you do it now. One place to find a lawyer who can give you reliable advice, based on all of the facts of your situation and Louisiana's legal rules (they can differ from state to state, and I don't practice there), is our website, http://attorneypages.com
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