- Jurisdiction
- New Jersey
If both spouses is on the deed for a home/property, and only the husband is on the mortgage, what is the wife's exposure there if the husband dies, becomes disabled, or they get divorced? In NJ I believe one spouse isn't responsible for the debts of the other as long as they haven't signed for the debt. But how does that relate to a secured debt like a home where they're both on the deed?
The problem is they're both in their early 70's, he's racked up a ton of debt (of his own, they have separate finances), is being irresponsible, perhaps dementia onset, had health problems, and may be about to lose his job.
Thanks in advance for any help.
The problem is they're both in their early 70's, he's racked up a ton of debt (of his own, they have separate finances), is being irresponsible, perhaps dementia onset, had health problems, and may be about to lose his job.
Thanks in advance for any help.