Maria and her husband Jorge purchased a home in Waukesha, Wisconsin in 2018 using a mortgage loan. The property is classified as marital property under Wisconsin's Marital Property Act. Jorge now wants to refinance the property in his name only without Maria's knowledge. Under Wisconsin law, what is the most accurate statement about this situation?
Correct Answer
A) Maria must also sign the new mortgage because both spouses must consent to encumber marital property
Under Wisconsin's Marital Property Act (Wisconsin Statutes Chapter 766), property acquired during marriage is generally classified as marital property. Both spouses must sign any instrument that encumbers or conveys marital property, including a new mortgage. A refinance creates a new lien on the property, so Maria's signature is required regardless of whose name is on the original loan.
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