dower right

[gwa444]

What is the name of your state? New Jersey
My wife and I live together in New Jersey.
My wife is in the process of helping her sister obtain a house in Ohio.
Her sister has bad credit and can't qualify for a mortgage.
My wife has recently applied for a mortage loan (in Ohio) and has been pre-approved. I told my wife I did not want to be on the application, as I did not want to take on any financial responsibility of this.
My wife has ask the mortgage consultant if there were any forms that I needed to sign to release me from the application.
The reply from the mortgage consultant was I would need to sign a document of Release of Dower.
What exactly is this ?
If my wife gets this mortgage, am I responsible in any way, for payment of the mortage loan if I get a divorce from my wife?
If my wife dies am I responsible in any way, for payment of the mortage loan?

[LdiJ]

Originally Posted by gwa444

What is the name of your state? New Jersey
My wife and I live together in New Jersey.
My wife is in the process of helping her sister obtain a house in Ohio.
Her sister has bad credit and can't qualify for a mortgage.
My wife has recently applied for a mortage loan (in Ohio) and has been pre-approved. I told my wife I did not want to be on the application, as I did not want to take on any financial responsibility of this.
My wife has ask the mortgage consultant if there were any forms that I needed to sign to release me from the application.
The reply from the mortgage consultant was I would need to sign a document of Release of Dower.
What exactly is this ?
If my wife gets this mortgage, am I responsible in any way, for payment of the mortage loan if I get a divorce from my wife?
If my wife dies am I responsible in any way, for payment of the mortage loan?

No, you would not be responsible for the mortgage. Your wife's responsibility would end with her death, unless back payments were due, and in that case her estate, if any, might have some responsibility. However again, you would have no responsibility.

[seniorjudge]

Q: The reply from the mortgage consultant was I would need to sign a document of Release of Dower. What exactly is this ?

A: You give up any rights, if any, to the land you may have gotten by virtue of being married to your wife.