If you're considering a joint title after divorce, it's crucial to understand the risks involved. If one party stops making payments, the other may still be liable. Creditors can place liens or judgments on the property if one person accrues debt. In the case of bankruptcy, the property could be at risk, even affecting the other party’s share. If the property is leased, disagreements over management can arise. Additionally, if one person dies, their ownership may pass to heirs, complicating the surviving party’s control over the asset. Clear legal protections are essential to avoid these complications.
Faran
Certified Divorce Real Estate Expert
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15 окт 2024
