If my wife wants to buy a house before we’re divorced, can I sign off on the house and not be liable?

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If my wife wants to buy a house before we’re divorced, can I sign off on the house and not be liable?

Asked on December 28, 2011 under Family Law, Ohio

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you wind up purchasing a home with your wife and you are on the loan, you will be held liable for the loan even if you were to quitclaim or transfer title all to her. In fact, such an unauthorized transfer is a move that will risk the lender's security interest in your loan and therefore may likely cause the loan to accelerate, which means it will be due immediately (the whole amount, not just the monthly payment). The best thing to do is to keep assets and debts separate and if your soon to be ex wishes to purchase a house, she will simply need to wait until the divorce is finalized and without your help. If she used any alimony or child support as part of her income to qualify for a loan, that would be solely up to her.


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