Can I keep the house if we divorce?
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Can I keep the house if we divorce?
When a married couple separates or divorces, both spouses usually have an equal right to stay in the family or matrimonial home. Usually, you’re not allowed to sell, rent or mortgage the family home without the other spouse agreeing to it. This is the case unless you have a court order saying you’re allowed to do so.
Can I buy my husband out of the house?
Yes, you can remove your partner from your home loan. However, you’ll need to be able to qualify for the mortgage on your own. If you qualify then: You can refinance and extend your mortgage to 95% of the property value.
Does my husband have to pay the mortgage if he leaves?
You are both jointly and separately responsible for the full amount of the loan. If the loan is not paid, the bank may take possession and sell the home to pay it. Most commonly, if you remain living in the home, you should pay the mortgage and expenses for the home, pending sale.
Can I take my husband off the mortgage?
As far as lenders are concerned, both people remain “jointly and severally” liable for the loan. In other words, the lender can come after both – or either – of you in the event of a default. The only legal way to take over the loan is to get your ex-spouse’s name off the mortgage.
