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Profile picture for moonpeepers

I have learned I will be awarded the house in a divorce will I also have to take the heloc and payit

Everything is in my spouses name, we are getting divorced and looks like I will be awarded the house, we have a heloc also in the spouses name, if I get the house will I also have to take over the heloc which has bought "toys" for the spouse?
  • February 20 2009 - Victory Heights
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Answers (4)

Profile picture for SeattleHome.com
This is not for an agent to answer.  It's decided by the divorce courts, not decided by real estate law.
  • February 25 2009
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Profile picture for wetdawgs
The divorce papers should address this question, if not, make sure the lawyers get agreement on it.    Chances are good that the default is that it goes to you.
  • February 20 2009
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Unless your divorce agreement requires the ex-spouse to pay off the loan prior to transfer you will receive the house and it's loans.  Ask for the toys or the cash.
  • February 20 2009
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Profile picture for Clearpoint
Normally yes, look at the divorce papers. 
  • February 20 2009
  • 0Yes

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