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Question from imbabyhNov-5
I live in Texas. My husband as a joint tenant on a property in Pennsylvania. We are facing foreclosure on our home in TX. Can his joint tenant be in jeopardy?
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Fallen Nov-6 84297.2

"Can his joint tenant be in jeopardy? "

You don't say precisely what you mean, but even if your lender is able to go after a deficiency judgment and his interest in the PA property, that doesn't mean the co-owner owes the money.  (Unless your husband's equity interest in the PA property is quite considerable, it's unlikely that a lender would go to the expense and trouble of trying to force the sale o fhis interest in that property, and depending on how they hold title, chances are they couldn't force the sale anyway -- though they could conceivably put a lien against it so that they'd get something if someone ever tried to sell or refinance it.)

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imbabyh Nov-6 84297.3

Fallen,

That is pretty much what we thought! I believe it is a 50/50 split on the property. It is a joint tenant with survivorship. The home was inherited after the death of a parent. We have thought about adding myself (spouse of  joint tenant) as a joint tenant in common with a set interest in the property thus lessening my husbands interest. But at this point it doesn't seem that would be necessary! thanks for your input!

Much appreciated!!

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Fallen Nov-6 84297.4

Even if your husband x-ferred his interest to whomever, if a creditor's really interested in going after it, they would (well could) seek to have that transfer set aside as a fraudulent conveyance to avoid a creditor.

Their owning as joint tenants w/ right of survivorship simply means that if your husband kicks the bucket, the remaining joint tenant owns 100% automatically by operation of title.

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imbabyh Nov-7 84297.5

All very confusing.....mortgage company wont work with him......totally stinks.......and it appears he has no way to protect the family property in PA. Really Suxs! Our attorney advised him to move back to PA thus making the PA property his primary residence, even though he would have to have that for a year to be beneficial! At this point we have no idea what to do! And seems filing bankruptcy would just make it worse because then he would have to declare the property in PA. By letting them foreclose we are at their mercy and hoping they won't do any discovery and sue for deficiency!

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