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My wife is short selling her house (TN). I'm not on the mortgage or deed. Am I legally responsible?

  • September 25 2012 - Nashville
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Answers (4)

Please ask a licensed attorney in your state...best of luck
  • September 26 2012
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Profile picture for Ofe Polack
This question is for a real estate attorney.
  • September 26 2012
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As Sean points out, a local attorney can advise appropriately.

However, I should point out that federal taxation is the same everywhere, so the loan portion that is forgiven may become your income (if filing jointly), and taxation would be your responsibility too.

Something to really consider and discuss with your wife.

Raheel Shahzad, Attorney, CPA, Real Estate Agent
Chicago, IL
*Above is not legal advice but general information; your facts and jurisdiction may be different*
  • September 25 2012
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Profile picture for RemingtonProperties
The technical answer is to contact a real estate attorney.  Mine locally in NM answers quick questions for my clients free like this - Sylvan Segal at 505-888-8888.  However, laws can vary from here to there - for example we are a community property state, meaning that when married, unless specifically deeded separately, both parties are responsible for the home.  

Credit is a whole other ball game though, and usually the one that consumers care about.  If you are not on the mortgage then your credit should not be impacted - unless of course TN is a community property state, a judgement is made after both of you, then filed as a collection on your credit report.  

My best advice - contact a local real estate attorney.  
  • September 25 2012
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