Good day, could anyone advise if you were married during the time that a land installment contract was signed in Pennsylvania,  but not party to the agreement, are you liable if your  now ex- spouse ,defaults? 

In fact when a performing note being used as collateral goes into default, the bank asks for a payoff or substitute collateral.

the other gotcha that is boiler plate in many debt instruments for real estate is. even if you have them on separate mortgages if you have a default on one property any other mortgage with the same lender is then in default..

yup you nailed it.. this is risky if your buyer defaults or bank decides to call the loan.. 

We've always had both Ad Valorem and Non-Ad Valorem taxes collected in our escrow impounds by default (not at our request).

You typically won't be able to get out of it unless you can get them for default or something similar.Be very sure you do know your renewal window as many if not most auto renew unless you give written notice.

You should be able to just directly go to commercial financing for a stabilized property.As for areas to look, I'm a big fan of the Southeast or Texas because you have population growth pretty much by default.

We're looking for help with language that explains consequences if the partner who is NOT on the mortgage defaults.

@Dan Heuschele@Mary MitchellNot singling out both of you, but I just thought I would include you both here.There are a LOT of unscrupulous Investors in Real Estate and how they operate is incredibly illegal and makes it very bad for Investors like me who follow the law.An example would be the case of an Investor that buys a "rent controlled building," for DIRT cheap, harrasses the tenants, including not making required repairs, to get them to move out and then in turn, forcing appreciation illegally while benefiting from the benefits (such as lower property tax) that the tax payers have given that investor to be entrusted and a good steward of the renters in a rent controlled building.There are even cases where the Landlord burnt down his rent controlled building to vacate it, reaping huge rewards years later.What this does to legit Investors like me who DO NOT BUY rent controlled buildings because of all of the requirements by law, is put us at a deep disadvantage of making money the sure and slower way because we pay close to market Price for our market rate buildings, which is EXTREMELY expensive compared to the rent controlled building.It is ENTIRELY unfair to both the tenants of those buildings AND legit Investors like me who refuse to break the law, harass tenants, etc. in order to break the limited revenue that the rent controlled buildings are under which is WHY they were cheap in the first place.In fact, what some of these landlords were doing was filing cases that just did not exist, knowing that a percentage of the tenants could not show up either because of medical, work or other reasons and would win a default judgement.It was so bad because the amount of cases that were presented in court backlogged NYC Housing Courts that it would have affected my own legit cases should I have one by causing these cases to be seen much later than would be normal.I don't agree with the characterization that ALL landlords are bad.... but it would equally be a mis-characterization to say that ALL landlords are good.The problem here is that the bad landlords affect people's lives.

People who borrow from family members are more likely to default than when they borrow from banks.