My husband & I have been married for 8 yrs and a year ago I filled for divorce. He had borrowed money from his mother to purchase the home prior to our marriage, I have never signed any papers stating that I would be 1/2 responsibility for that loan. The home transfered title to me a yr. after we were married, we started filling taxes jointly after the house was transfered to me and he has been putting the interest he has been paying his mother on the loan on the taxes. Can I be held responsible to pay his mother's loan?
Two ways to answer - if there are no papers on the loan, then he has to provide proof.
However, morally, if the money is owed, clearly outline that money from the value of the house and expect that you owe 1/2 of it. Depending on the size of the loan, you would spend more than you owe to fight it.
Whatever you do, get a release on that loan in the final decree.
Well from what I have learned the past few years about divorce, is it was bought with intention for you both to live there and it was bought after you all got married, its called marital debt. You owe half that loan. Ofcourse the judge will have to rule on that. But Im sure thats how it goes in illinois..
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