I live in New York state. My husband and I are on the deed to our house. The mortgage is in my husband's name only. My husband recently died...

Question

I live in New York state. My husband and I are on the deed to our house. The mortgage is in my husband's name only. My husband recently died intestate and with no assests. Am I responsible for the mortgage? And if I do not continue to pay the mortgage and the house is foreclosed on, will it show on my credit report?

Answer

No.

Answer

Am I responsible for the mortgage?

A. Not a simple answer. It depends on how you and your husband's name is on the deed and whether you signed a promissory note for the bank.

In New York, if you own the house as "husband and wife," you have title to the property as a tenants by the entirety. "It is well established in this state that a surviving tenant in a tenancy by the entirety receives the fee interest in its entirety, free and clear of any debts, claims, liens or other encumbrances as against the deceased spouse. ... Thus 'if the grantor or mortgagor predeceases the spouse whose interest in the property has been retained the grantee or mortgagee is left with no interest in the property at all.'" Matter of Jones, 523 NYS2d 396 (1987) citing VRW, Inc. v. Klein, 510 NYS2d 848 (1986).

If you never signed the mortgage or promissory note, your husband's estate (and not you personally) is responsbile for the mortgage. However, I do not believe that the bank will be able to foreclose against the house - or even file a judgment against you.

Mike.