If something happens to your spouse, will you be left to foot the mortgage on a house you never liked nor want

Question

My name is not on the house and i don't give a d@mn about be entitled to it. I simply don't want to be left with a house i don't like. It's raggedy.

Answer 1

I dunno...

At first I was really amazed at how insignificant and lame most of the kids were in this answer thing. But then again, they are kids after all.

And occasionally, I would run into someone's question that would make me think "How did this person survive this long on with such little knowldege."

You're question falls somewhere in between...

To answer your question, which should be more than obvious, if your husband dies, the mortgage company will take the house back. If of course, the house is in his name.

All that crap about joint tenancy and common law requires court filings and going to court and lawyers, and frankly, that seems like too much trouble for you, anyway.

What I don't understand is how the value of the house seems to escape you.

If you don't like the house you can sell it. You can't pocket the money, in a manner of speaking, but you can use that money to purchase a house you do like.

Why is it that you don't seem to understand this?

Answer 2

Most banks set up a mortgage insurance for home owners in the case of accidental death the spouse is not responsible fopr the mortgage the insurance company will pay off the house for the widow and she can remain in the house. Of course bills and other payments would still have to be payed but the mortgage would be payed off in most cases if you are concerned about this talk to your hubby and get him to ask his bank if he doesn't know himself. But really you should be grateful for having a roof over your head you sound like a selfish old nag.

Answer 3

It depends on whether or not the title is held as "joint tenants". If you are both on title, you will have full rights to the house if your spouse passed away. You could then do whatever you want with it. If you don't like it, the smart thing to do would be to sell it and take the equity from the sale and use it as a down payment on a house you do like.

If you are not on title or the loan, than you'd be homeless as the house would revert to the estate and you'd have the option to buy it, or the estate would auction it, or the lender would short sale it.

Answer 4

Yes----since as his legal spouse, you will inherit his estate. Of course you can always sell the place.
Instead of complaining about your house being "raggedy", why not show some initiative and engage in some home improvement? Any one can pick up a paintbrush, refinish floors, etc. Home Depot offers all kinds of classes, like laying tile. Refinish the cabinets, clean the carpets...do whatever it takes.

Answer 5

You can always sell the house if your spouse dies. You can also fix it up while your spouse is living. Why stay in a house you don't care about? And if your spouse reads this and figure out you wrote it you might be left with nothing.

Answer 6

Perhaps you need to find out what the pay off of the house is and in the event something was to happen, you would know what you would need to sell it for to pay it off. You could also make sure you have enough life insurance on your spouse in the event they precede you, you will be able to cover all the bills and debts.

Answer 7

I suppose it depends on what state you live in... community property states split all assets within a marriage 50/50 and that includes the debt regardless of whose name is on what. therefore, you'll still need to fill out all the necessary paperwork for the "estate property" to go through probate court - even if there is a Will and then it will be decided who gets the property. If you get it... sell it.

Answer 8

you will be able to walk away but if you want the house you should go to the bank and take out credit life that way when your partner is gone the house will be payed for and if you still want too you can sell it good luck and have a great new year

Answer 9

If your name is not on the house then why would you have to worry about it? The only way that you would have to worry is if your "spouse" puts it in their will. I guess if something was wrong with my spouse I would be more concerned about them and not the house...thats material and can always be sold.

Answer 10

If he leaves it to you in the will YES! If you are married at the time of his death then YES! They will go to you for the payment of the house. If you do not like it and do not live in it then sell it!