My house is in both mine and my wife's names. It is paid off. My wife left 4+ months ago and I don't know where she is. If I need money, could I get a mortgage without my wife? If I need to sell the house, can I do it without my wife? What should I do, if I need money?
2006-11-16 15:49:50 · 6 answers · asked by fatsomoe 1 in Business & Finance ➔ Personal Finance
No. If her name is on the deed, then you'd need her approval to use the house as collatoral for a loan or to sell it.
You should talk to a lawyer, though. He may be able to find a way around it. It depends on what state you live in, but if she left for no reason it could be considered abandonment and, if you've proven a good faith effort to contact her, you may be able to move forward with a sale or loan provided that some sort of considerations are put in place to protect her portion of the investment.
2006-11-16 16:03:59 · answer #1 · answered by JerH1 7 · 0⤊ 0⤋
I would assume in most states the law is the same, but in Florida you cannot take out a second mortgage (Home Equity) without your wife if her name is on the deed to the property. Essentially, you would be placing her property (half the home value) at risk should you default on the loan.
2006-11-17 00:01:18 · answer #2 · answered by backupplanc 2 · 0⤊ 0⤋
I think you need an attorney that specializes in Real Estate law in your state. Depending on property settlement laws, your wife could be entitled to some of the proceeds of the sale.
Issy
2006-11-17 00:05:36 · answer #3 · answered by Issy 2 · 0⤊ 0⤋
I would say see an attorney, if you have enough money to buy an hour or two of time. That way your options are layed out clearly for you and you don't have any legal worries.
2006-11-16 23:58:58 · answer #4 · answered by Bobdylan2999 1 · 0⤊ 0⤋
If her name is on the Deed you need 2 get a hold of her otherwise you can't do nothing
2006-11-16 23:58:42 · answer #5 · answered by sugarbdp1 6 · 0⤊ 0⤋
You can sell as long as your deed says John or Mary Smith. If it says 'AND' you might have a problem. Sounds like you need a laywer.
2006-11-16 23:59:01 · answer #6 · answered by Lynda 4 · 0⤊ 0⤋