Lucy and Ricky have come into some money. They buy a house in Massachusetts for $500,000 dollars,
which is secured by a $400,000 mortgage. The mortgage is properly perfected and recorded. When they
buy it, the broker tells them to file a written homestead declaration, but they never get around to it. They
don’t divide the property evenly, and Lucy pays for 1/5 while Ricky pays the remaining 4/5. Since they
are not the “commitment types” and worry about the stability of their non-marital relationship, they buy
the house as tenants in common.
Two years later, Lucy is fed up with Ricky and she temporarily leaves. Lucy continues to make all
payments on the house, and she is out on her own for a few weeks when she calls Ricky to tell him that
she had a little “accident” while “driving too fast away from a mini-mart,” and now there is a $30,000
judgment against her.
She is low on cash at the moment, so the judgment creditor wants to go after the
house for payment. The current mortgage is $300,000 and the current value of the house is $600,000.
Lucy and Ricky come to you and they want to know if the judgment creditor can force them to pay and if
so, how much will he get?
