If a married couple owns a home as joint tenants, what is the liability for a spouse who is not listed on the mortgage?

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If a married couple owns a home as joint tenants, what is the liability for a spouse who is not listed on the mortgage?

The deed and mortgage is in both of their names, the promissory note is solely in the husband’s name. The husband passed away. Is the wife responsible for repayment of the full loan? I have found evidence that it may be the case that the bank would only be able to go after a half share in a foreclosure. There would be no hesitation on the part of the wife to let the house go if repayment would involve only having to pay off half of the existing mortgage.

Asked on November 28, 2012 under Real Estate Law, Pennsylvania

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

you do not owe the money personally, but if it is not paid then the mortgage compnay foecloses and sells the house to get its money


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