If both my name and my spouse’s are on the title of our house but only mine is on the mortgage, if we got divorced what would happen to the house?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If both my name and my spouse’s are on the title of our house but only mine is on the mortgage, if we got divorced what would happen to the house?
The house is also a recent purchase from 3 months ago. Is there any way I could end up with the house at the end of the divorce? Is there any way to buy out my spouse’s portion of the house – even if we’ve only made 3 payments on it? How would that work?
Asked on May 7, 2012 under Family Law, Michigan
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I believe that in Michigan assets are divided under an equitable distribution formula. The house is both your and your wife's regardless of the title or mortgage. It was purchased during the marriage. If you wanted to buy her out then you would have to look at the present market value of the house, subtract the debt (the mortgage) and then make her an offer or bargain another asset (waive your right to her pension, etc.). I would consult with an attorney who can look at the whole picture and help you figure out the best move. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.