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Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 54839
Experience:  32 years of experience practicing law and a businessman.
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My husband and I are trying to apply for an RV loan. We have

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My husband and I are trying to apply for an RV loan. We have been turned down because his name is XXXXX XXXXX the mortgage of his ex wife's home even though he Quit Claimed the house to her. His debt ratio is a little high. (She has been paying satisfactorily on this loan for the last 6 years). I could qualify on my own. If we take this path, my husband wants to sign a legal document to me for half of the financial responsibility of the RV. (The price of the RV is $350,000). Can this be done?

Hi there. Absolutely---you and your husband would merely need to enter into a written agreement detailing his obligations and then set forth what if any ownership rights in the RV that those obligations entitle him to.

 

 

I hope this has given you the guidance you were seeking. I wish you the best of luck!

 

 

 

The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

Customer: replied 7 years ago.
A written agreement. Just between the two of us? Would it need to be notarized? Or would a simple written agreement signed by both of us be sufficient to hold up in a court of law?

Yes, it would only need to be between the two of you. It would be helpful to have it notarized just in case someone challenges whether you both actually signed it later. And, if your husband was going to be getting an interest in the RV at some point as a result of his payments, he might want to file a UCC-1 with the Secretary of State to show that he does have a potential interest in the RV.

 

 

I hope this has given you the guidance you were seeking. I wish you the best of luck!

 

 

 

The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

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