Am I liable for a foreclosure on property that my husband bought prior to our marriage? We live in Florida.?
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Answer:
Well as the others have told you if you are not part of that transaction and you have no privity to the agreements then marriage does not obligate you to the note, because Florida is not a community property state where if it was a community property state then by law the husband and wife own and owe 50/50 on properties acquired during marriage and in most cases in a community property state the acts of the spouse can cause a sole and separate property (acquired prior to marriage) to become community property here are some links
LAWS: http://www.flsenate.gov/statutes/index.c...
STATE’S WEB SITE: http://www.myflorida.com/
HOMESTEAD EXEMPTIONS AND OTHER EXEMPTIONS: http://www.ocpafl.org/docs/hxbro.html#wh...
Homestead exemption from Indian River County Florida: http://indian-river.fl.us/government/pro... or laws from Justia: http://law.justia.com/florida/codes/titl...
State bar Association: http://www.floridabar.org/
I suggest that you talk to a local legal begal and get some legal help, if you can not afford it go to this link
Free legal aid search for all states: http://www.lawhelp.org/
Tell your husband to go and visit these sites
The Fair Debt Collection Practice Act: http://www.ftc.gov/os/statutes/fdcpa/fdc...
Consumer Credit Protection US Federal Laws: http://uscode.law.cornell.edu/uscode/htm...
Foreclosure requirement by HUD guaranteed loans: http://www.hudclips.org/sub_nonhud/cgi/n...
For sure tell him to go see this one
National Home Recovery Program for foreclosures http://www.nhrp.com/
Buena Suerte
If it was kept as his separate property, you had no rights to it and you also have no responsibility for it.
You are responsible if your name is on the mortgage.
Since it was before you met him I doubt it.
However, your mutual assets now, if there is money owed to the bank after foreclosure, may have an attachment for his part. You should definitely speak to an attorney, and if this is true, transfer assets to your name, assuming there are no pending judgments against you, to protect your assets.
You would only be liable if you are on the bank note. If you never signed the bank note, then you are not obligated to pay the loan, and in turn, this cannot affect your credit. Also, if you were never on the note, then the bank would not even have your social security number. Whether your name is on the deed or not (as you indicated it was not), does not affect who is responsible for paying the bank. Only those who signed the bank note are obligated to pay, and the bank may only report the credit issue for those on the note (I am assuming you're not on the note either, but you did not mention this).
Of course, if the loan is not paid, then the bank will eventually seize the property, report your husband to the credit bureaus, force everyone out, and will sell it. So, there's also the issue of where you would live.
It will not affect you per say but it will affect him...they will go ONLY AFTER HIM, not you and it will not affect your credit in any way. However, if he dies.then that may be another story altogether, not sure.
With myself, i was no longer with my ex hubby, we were separated, but i still had his last name, the bills were in my name, didn't make a difference, if i couldn't pay it, they went after him. This was with REGULAR bills, but not property.
However, this is speaking from what i know of California.sorry i do not know about Florida. You can call attorneys on the phone who will give you a free consultation hon.
Good luck dear.
If you didn't sign the note, you're not liable for the debt. They can't do squat to you, except take the house from your husband, leaving you indirectly affected.
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