Carrie, Home Seller in 07717

my wife and i are separated and I want to sell my lot as the deed is in my name. the mortgage is in hers. what can happen here?

Asked by Carrie, 07717 Tue May 1, 2012

The lot was ther result of a subdivision and i have a buyer.

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Mary Petti, Agent, Edison, NJ
Tue May 1, 2012
Ask an attorney ASAP one here, especially RE agents, can answer. Too may variables and legal issues. It may be counted as a marital asset during divorce procedings and therefore negotiable in the settlement (if you pursue a divorce).
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Ron Thomas, Agent, Fresno, CA
Tue May 1, 2012
I doubt that you can hide this from here:
It could depend on your local/state regulations.
I would suggest finding a good Title/Escrow company and asking them; you will need them anyway.

Good luck and may God bless
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Dennis Knight, Agent, Millstone, NJ
Tue May 1, 2012
I would say the most obvious, is you're separated and not divorced. As such, husband/wife connections have certain rights that don't exist with divorced (legally disolved) connections.

You will need to consult an attorney on the actual details of what and how you can proceed with this.
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Tim Moore, Agent, Kitty Hawk, NC
Tue May 1, 2012
If the deed has your name on it then you are the owner. Having the mortgage is the bad side, having the deed is the good side. I would suggest speaking to a lawyer since I don't know the NJ laws. Was there a separation agreement and did it give you the lot? If so you can sell it, since the mortgage is in her name she would have to hope you would pay it off for her, again speak to a lawyer.
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