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interspousal effect

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kingo Joined: 30 Dec 2009 Posts: 1 1.28 Dollars($)	Posted: Wed Dec 30, 2009 12:57 pm    Post subject: interspousal effect Like 0 Dislike 0 my wife, before we married, had an apt bldg that we re-acquired, after our marriage, by foreclosure. She doesn't want anything to do with it. Does an interspousal deed alter her risk in any way? She is concerned ownership might affect her credit ratings. We live in California.
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Wed Dec 30, 2009 8:01 pm    Post subject: Like 0 Dislike 0 Hi kingo, Ownership of a property will not affect your wife's credit rating. However, if the mortgage dues are not paid on time and if her name is on the mortgage docs, then her credit rating will be affected. If she wants to transfer the property to you and does not want to have any rights to it, then she can sign an interspousal transfer deed. _________________ Procrastination is the enemy of your financial success

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