Can the bank place lien on my new home ?

I was recently married ( june) My husband and I are buying a condo. I have a line of credit loan with my business partner that is outstanding. It was for a franchise. We plan on paying the loan after a lawsuit we are involved in settles. The debt was acquired by me before my marriage. My husband is not involved in the loan. My question is that if I were to go on the mortgage along with my husband can the bank place a lien on the property even though it would affect him as well and he had nothing to do with the outstanding loan ? Should I stay off the mortgage and just leave it in his name ?

Can the bank place lien on my new home ?

Depends on the state. IN some states judgements against property held by tenants by the entirety don't attach to the property untill a divorce severes the tenancy (or death).

Upon gaining a judgement, they have the right to attach a judgement to anything you own; but it doesn't mean they can forclose or act against the property; only get in line when you sell or refi.

Can the bank place lien on my new home ?

Yep, if you don't make the payments.

Can the bank place lien on my new home ?

See a lawyer! How can you expect to get serious solutions to complex legal and financial questions like this? Jeez

Can the bank place lien on my new home ?

yes leave ur name off the mortgage u assume as much financial liability as ur partner. the bank will eventually sue ur biz partner n u will b named in the lawsuit. the bank will ask the judge to put a lien on all property until the loan is repaid.

Can the bank place lien on my new home ?

yes they may you should not buy a home until you get your credit worked out to have him only on the mortgage and you paying for it may come back to haunt you

Can the bank place lien on my new home ?

Yes. They can and will. If he can qualify for the loan without puting you on, then do that. If not, wait until the debt is gone before buying a house.

Can the bank place lien on my new home ?

Not necessarily, it depends on how you took out the loan. If the BUSINESS took out the loan, then that bars them from collecting from you personally, that is why people incorporate through the Secretary of State.

However, if this was a joint account that you and your business partner took out, then yes, they are within their rights to put a lien against your property.