Short answer. No. Where property donated by reason of marriage is foreclosed and sells for less than the secured obligation, the donee is not liable for the deficiency. If it sells for more than the obligation, the excess belongs to you as donee.
What the law says
In case of foreclosure of the encumbrance and the property is sold for less than the total amount of the obligation secured, the donee shall not be liable for the deficiency. If the property is sold for more than the total amount of said obligation, the donee shall be entitled to the excess.
Family Code, Article 85 — Donations of Encumbered Property. Read the full provision →
The donation was valid despite the mortgage
The article opens by settling a point people doubt: donations by reason of marriage of property subject to encumbrances shall be valid. A donor is not required to clear a mortgage before giving the property away, and the donee does not take a defective gift. What the donee takes is the property as it stands, encumbrance and all — which means the mortgage continues to run against the land and the creditor's right to foreclose is untouched by the donation. The gift transfers the owner's position, not a cleaned-up version of it.
The shortfall stays with the debtor
The rule then protects you at the point where it would hurt. If the auction realises less than the total secured obligation, you are not liable for the deficiency. The reasoning is straightforward: you received a gift, not a loan, and you never undertook to pay the debt. The deficiency remains the obligation of whoever borrowed, which in the usual case is the donor. A donee who receives a demand letter for the balance after a foreclosure should read this sentence carefully before paying anything, and should not sign an acknowledgement of the debt, which would create by contract the liability the article denies.
The upside runs the other way
The provision is symmetrical, and the second half is the one donees forget to claim. If the property sells for more than the obligation, the donee shall be entitled to the excess. That surplus is yours as owner of the foreclosed property, not the donor's and not the bank's. Foreclosure sales of land bought years earlier not uncommonly produce one. The excess is a sum somebody has to be asked for, and asking is easier while the proceeds are still being accounted for than years afterwards.
Two things change the answer
Read your own papers before relying on the rule. First, did you assume the loan? If you signed as a borrower, co-maker or surety, or executed a new mortgage after the donation, you are liable on that undertaking and the protection here does not reach you. Second, was this genuinely a donation by reason of marriage, made before the celebration and in consideration of it? A transfer made after the wedding is an ordinary donation and this article does not apply to it. The deed, its date and every loan document you ever signed are what a lawyer needs to see.