Ex husband lives in family home

[Lindawills]

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

My ex husband lives in the house in NC. He pays all the bills / mortgage / everything, since I moved out 4 years ago. Before that we jointly paid for everything together, even though for several years he was out of work and we lived off my wages. We bought/ lived in the house in 2006. The loan on the property is now $74000. It is in my name only but we are both on the title deed. The house has just appraised for $145000. I have 2 grown up daughters. My ex husband is not their father. We were married after they were 18 years old, so he is not their legal step father. We were married in 2001 till 2014 after living together for many years. My husband thinks that he can sell the house and leave the US to go back to the UK, where he is from originally . He is a permanent resident and I am a US citizen. My question is ,what would happen to the property if I died? I want to be able to leave my daughters something. Thank you.

Stroudsburg, PA

 

[HRZ]

How is it titled : tenants in common, tenants by entireties, joint tenants w rights of survivor ?

What if anything does divorce order say about this or assets in general.

 

[latigo]

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

My ex husband lives in the house in NC. He pays all the bills / mortgage / everything, since I moved out 4 years ago. Before that we jointly paid for everything together, even though for several years he was out of work and we lived off my wages. We bought/ lived in the house in 2006. The loan on the property is now $74000. It is in my name only but we are both on the title deed. The house has just appraised for $145000. I have 2 grown up daughters. My ex husband is not their father. We were married after they were 18 years old, so he is not their legal step father. We were married in 2001 till 2014 after living together for many years. My husband thinks that he can sell the house and leave the US to go back to the UK, where he is from originally . He is a permanent resident and I am a US citizen. My question is ,what would happen to the property if I died? I want to be able to leave my daughters something. Thank you.

Stroudsburg, PA

Pardon me, but the mortgage cannot be in your name alone as you've stated. Not if you two bought the home taking ownership with both you and your ex "on the title deed".

Otherwise the mortgage lender would not have adequate security to back up of the mortgage loan. The mortgage lien would be literally worthless as in the event of default the lender could not foreclose its lien against your ex husband's title. Mortgage lenders do not make mortgage loans without obligating all persons or entities shown as record owners.

Secondly, what happened to the marital home in the divorce? Why wasn't it and the mortgage taken into consideration by the court in making disposition of the marital assets and liabilities? Did it just slip through the cracks?

Apparently so and if so, then you and the ex each own an undivided one half of the home as "tenants in common" in what is know as "an estate in cotenancy" with neither being able to sell the whole without the other's participation.

All of which peaks one's curiosity of why you ex thinks he can alone sell the house. Has he offered an reason or basis for believing that he has that ability? Is there something that we don't know about but need to know?

Anyway as to your question of what happens to the house upon your death - if it remains an asset it would treated as any other property owned upon death and subject to being devised by your will.

HOWEVER, there is much you need to know about this tenants in common relationship of you and your ex with each owning an undivided one half of the house and none of it favorable!

If you would like an explanation as to why it is the worst possible way to own real property and why it would become more so should your children end up with your half and sharing the home with your ex or his heirs, then ask.