Hold Harmless

a phrase used to describe an agreement by which one person agrees to assume full liability for an obligation and protect another from any loss or expense from that obligation.

The contractual assumption of certain liabilities by a party who agrees: 1) not to look to the other party for assistance in satisfying such liabilities, and 2) to defend ("indemnify") the other party against third party claims, if a third party, such as a mortgage lender, sues you.

The contractual assumption of certain liabilities by a party who agrees: 1) not to look to the other party for assistance in satisfying such liabilities, and 2) to defend ("indemnify") the other party against third party claims, if a third party, say a creditor, sues you. If your spouse agrees to indemnify you, he will defend any actions against you including paying your attorney fees, court costs, and damages against you, if any are awarded.