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#771693 - 04/21/16 11:34 AM On th Deed but Not the Mortgage?
adavid02 Offline

recently joined

Registered: 04/21/16
Posts: 1
The house was purchased prior to the marriage. I was not able to be on the mortgage due to student loan/credit issues. I was later added to the deed via a quitclaim. The county is Cherokee.
Since I am not liable for the mortgage, if the house were sold, would my entitlement be to half of the full selling price regardless of the mortgage balance? I.e. would I have any responsibility in paying off the mortgage in the event of a sale?

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#771694 - 04/21/16 12:19 PM Re: On th Deed but Not the Mortgage? [Re: adavid02]
MinnesotaMom Offline

old hand

Registered: 01/05/11
Posts: 770
You are entitled to 1/2 the equity, not 1/2 the selling price. The mortgage would have to paid off first, then any other liabilities, such as back taxes, realtor fees or any bills associated with the home. then the remaining balance is split.

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#771695 - 04/21/16 03:05 PM Re: On th Deed but Not the Mortgage? [Re: MinnesotaMom]
TJMH Online   content

enthusiast

Registered: 07/17/15
Posts: 339
As MM said, the mortgage is still considered a marital debt even if you're not named on the loan so in the divorce division of property you're both equally responsible for it. Same with any other debt like car loans, credit cards, etc. that were incurred during the marriage.

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