Community property Law

[Yrdawg]

Help me settle an argument..

One of the guys I work with has been married for 20 + years

They bought a mobile home a few years ago for cash, he was working and sent her to finalize the title transfer and that stuff, the Title was issued in her name only

Recently she took out a loan and used the trailer for collateral....

I'm telling him that loan is not legal and that the finance company could not repo that house because it's community property and needed both signatures to be legal

So ya'll can tell me how right I am

 

[deafdave3]

armed_loaner would know!!!

 

[Guate_shooter]

How would the Finance company know that if the title is on "her name only" ?

 

[Doug]

If the loan is just on the mobile home (no real estate included) and the title is only in her name, I am of the opinion that it is a good loan.

 

[glimmerman]

Sounds like he needs to kick her down the road like a tin can!!!!!!!!

 

[Cat]

Spec's boat is in his name, but legally I'm also responsible for his debts. Seems to me it would suck, but the loan is good. Marriage is a legal partnership. So my guess is that they would assume he'd be aware and agreed to the business transaction.

 

[Yrdawg]

How would the Finance company know that if the title is on "her name only" ?

I would guess she had to present it at time of loan ???

 

[rebelray84]

Spec's boat is in his name, but legally I'm also responsible for his debts. Seems to me it would suck, but the loan is good. Marriage is a legal partnership. So my guess is that they would assume he'd be aware and agreed to the business transaction.

/\ This /\

 

[Yrdawg]

Ya'll are not making me sound right..........

LOL....but I'd rather help him with truth not fiction

 

[JadeRaven]

The real question is who knew you could borrow against your trailer home.

 

[Guate_shooter]

I would guess she had to present it at time of loan ???

That is not what my sentence asked ! Let me re type it

How would the finance company know that it is "joint property", when she presented the paperwork to apply for the loan the title was on HER name only so to them thats as legit as it gets.

 

[Yrdawg]

The real question is who knew you could borrow against your trailer home.

My first reaction too

I live in a trailer and we were told we could mortage our land but not the trailer, we did neither, times are just too uncertain

But thanks for your contribution

 

[Yrdawg]

How would the Finance company know that if the title is on "her name only" ?

I would guess she had to present it at time of loan ???

That is not what my sentence asked ! Let me re type it

How would the finance company know that it is "joint property", when she presented the paperwork to apply for the loan the title was on HER name only so to them thats as legit as it gets.

This is true, they wouldn't know...but when I've filled out loan apps they ask are you married

If the answer is yes then I would suppose the community property question would arise..but IANAL.....thats why the question here

I know when I buy a new truck it takes both signatures...cause they tell me I'm married I have to have both names on sig line


Anyway....I appreciate all the info

Thanks

maybe I ain't right

 

[Doug]

Louisiana Civil Code Article 2351: "A spouse has the exclusive right to manage, alienate,encumber or lease movables issued or registered in his name as provided by law."

 

[posse comatosis]

alienate,encumber or lease movables issued or registered in his name

In this case, the above would be her half of the trailer only. She cannot encumber his half. The kicker is he is responsible for any debt she incurs. So the lender get a judgment against him and then force the sale of the trailer.

 

[Yrdawg]

I'll pass this on.....I know all this will be greatly appreciated

Thanks again everybody

 

[leVieux]

This is silly.

If there is a problem, you need to have an attorney who practices in that field review all of the details.

B-S'ers on-line legal speculations are just plain B.S.

leVieux

 

[Doug]

In this case, the above would be her half of the trailer only. She cannot encumber his half. QUOTE]

If the title is in her name only, and if the trailer is in fact a "movable", she can encumber his half. That is exactly what that Civil Code article says. He may or may not be personally liable for the debt, depending on whether or not the funds were used for a community purpose, but the mortgage on the trailer is valid.

 

[charliepapa]

I'm not sure if it matters in this case, but remember this; a mobile home is NOT a moveable and won't have a title, per se, the same way a car does if the wheels were removed when it was set in place. There is also paperwork that is filed with the parish when this is done to avoid sales tax since there is none on a permanent structure that is your home.

 

[honestlou]

In this case, the above would be her half of the trailer only. She cannot encumber his half. QUOTE]

If the title is in her name only, and if the trailer is in fact a "movable", she can encumber his half. That is exactly what that Civil Code article says. He may or may not be personally liable for the debt, depending on whether or not the funds were used for a community purpose, but the mortgage on the trailer is valid.

^^^
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