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punky_1

Protection of family home

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My husband currently owns a property out of state that we will more than likely need to short sale. How do we protect our current home here in Massachusetts? His name alone is on the out of state property, but we both hold the deed on our family home.

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It would be up to a lender to agree to a short sale, which I trust you already know.

"How do we protect our current home here in Massachusetts?"

Your post is short on details, so I'm not sure what you mean. Obviously, they can go after him for a deficiency on the loan unless they agree to let that go. You don't say how much his share of the equity is in any primary residence, so we can't know whether a lender would find it worthwhile to go after him for a deficiency.

Him messing with his interest in your residence is arguably a fraudulent conveyance. If you each own an undivided interest in the property, however, you are arguably free to convey 100% of that property to whomever and, if you're not a debtor on the other property, arguably that's not a fraudulent conveyance. Perhaps worth discussing with a local attorney.

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