If the wife purchases a home, does the husband have claim in the event of a divorce?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If the wife purchases a home, does the husband have claim in the event of a divorce?
My husband does not qualify for the mortgage due to having a mortgage of his own that has a reduced interest rate due to the President’s reduced mortgage program. He was not aware it would reduce his credit rating when he requested the reduced rate. Now his credit rating doesn’t’t qualify him to purchase another home. The condo we live in is too small and I want to purchase a larger home. I do qualify for a mortgage with my salary. If I purchase a home, and sometime in the future we divorce, does he have any claim to the house I purchased?
Asked on August 23, 2012 under Real Estate Law, Maryland
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The general rule is that assets purchased during a marriage are marital assets that are subject to distribution during a divorce. It does not matter whose name the mortgage is in or whose name the title to the proeprty is in. 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.