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  1. #1
    Nucker is offline Junior Member
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    Co ownership of Home after a divorce

    What is the name of your state (only U.S. law)? Wisconsin

    I've been divorced for a year, and my ex wife and I decided to co own our home. We pay our mortage, but have not indicated to our mortgage company that we are divorced. Will we run into problems if we sell the home?
  2. #2
    LdiJ is offline Senior Member
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    Quote Originally Posted by Nucker View Post
    What is the name of your state (only U.S. law)? Wisconsin

    I've been divorced for a year, and my ex wife and I decided to co own our home. We pay our mortage, but have not indicated to our mortgage company that we are divorced. Will we run into problems if we sell the home?
    No, you will not...unless you sell the home for less than what you owe on the mortgage. Then it could get sticky.
  3. #3
    mistoffolees is offline Senior Member
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    Quote Originally Posted by LdiJ View Post
    No, you will not...unless you sell the home for less than what you owe on the mortgage. Then it could get sticky.
    It could also get sticky if the two of them have any disagreements on how to split the proceeds.

    I've said it before - it is NEVER a good idea to leave loose ends in a divorce. Unless they have VERY specific wording in their decree about selling the house, maintaining the house, and how to split the proceeds, there could be trouble in the future.

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