My husband is buying a house

Guest 0.10 Dollars($)

Hello,

My husband is buying a house in AZ for us but doesn't want to add my name on the title since he has much higher salary than i do.. is that normal? what should i do? plz help me...

Niicss · Joined: 03 Oct 2005 Posts: 1033 153.96 Dollars($)

Welcome Sali.

Are you also on the mortgage? Is he taking the mortgage loan on his name only? If he is taking the loan on his name only then it is possible that he is only on the title of the property but you can be added on the title later.

jheard · Posted: Wed Jul 23, 2008 12:43 pm Post subject:

It is not uncommon. If you live in a community property state, half the house is yours anyway.

Guest 0.10 Dollars($)

no I am not on the morgage at all and yes i think AZ is a community property state and he knows it, then why didn't he wanna add me since the house would be 50% mine too?
How can he add me later? after it is all paid or like after 6 months?

larry · Joined: 27 Jun 2007 Posts: 3307 470.31 Dollars($)

Hi Sali.

Welcome back.

If your husband adds you on the deed now, then your credit and income will also be checked for the mortgage loan. That's why may be your husband don't add you on the deed now. And as this is a community property state, you will certainly get half of the house in anyway as jheard mentioned above.

Hope it helps. Feel free to ask if you have any further questions.

Best of luck,
Larry

Jessica

Hi Sali,

Welcome to our community forums.

Well, if it's a community property state, then being the spouse you are entitled to half of the property as per the community property laws. Since he has taken a mortgage, therefore if he adds you later, chances are that the lender may impose the Due-on-sale clause . But he needs to check in the loan contract as to if there's anything stated about the due on sale clause. if not, then he can add you to the title, though with permission from the lender.

As per community property laws, even if your spouse sells off property, he is supposed to offer you 50% of the sale proceeds.

Regards,

Jessica.

Guest 0.10 Dollars($)

Thank you guys for answering...
What is due-on-sale, i clicked on that link but it was not very clear to me..

larry · Joined: 27 Jun 2007 Posts: 3307 470.31 Dollars($)

Hi Sali.

Welcome to the forum.

Due-on-sale is a law that enables the lender to ask you to pay the due loan amount at once if you transfer the property without the lenders permission. Now what Jessica may want to mean is that your husband cannot add you on the deed without the lenders permission and if you are added on the deed then you may also need to refinance to include you on the mortgage.

BTW, as you stay in a community property state there nothing to worry about it as you are also equal ownership of the property.

Best of luck,
Larry

Jessica · Posted: Fri Jul 25, 2008 5:37 am Post subject: RE: due on sale clause

Welcome back sali.

What you need to check in the loan doc is whether it has a due-on-sale clause mentioned there. This clause gives the lender the right to demand full payment of the loan in case the borrower transfers property or title to anyone while he's in the mortgage.

I hope it's clear to you now. If you have further questions, I'll be glad to answer them.

Regards,

Jessica.

Guest 0.10 Dollars($)

Hi Jessica, i have never seen the loan doc, he does everything by himself!!! Sad

Jessica · Posted: Tue Jul 29, 2008 5:15 am Post subject: RE:

welcome back Sali.

Well if your husband doesn't want you to check the loan doc, the only way out is to contact the lender stating your situation and then requesting him to provide you with the information. But the problem is, you're not added to the loan, so the lender may not be willing to reveal any loan related information to anyone who's not a part of the transaction. By the way, do you contribute towards mortgage payment?

Guest 0.10 Dollars($)

We have a joint account, but he has a higher salary, so yes i may contribute, but not as much as him since he has a higher salary..

larry · Joined: 27 Jun 2007 Posts: 3307 470.31 Dollars($)

Hi Sali.

Did have a talk with your husband regarding this matter ask him why didn't he want to add you on the title of the property that he is willing to buy? As you live in a community property state you will also be the owner of the property but it is always better to talk and clear all confusions.

Best of luck,
Larry

sara

Hi Sali,

The fact is that if you pay for the mortgage along with your spouse, you'll have a community interest in the property, even though you may not be added to the title. This is because Arizona is a community property state. I hope your spouse knows about it.

Once you start paying for the loan, you can even calculate the community interest by Moore Marsden Rule .

Take Care

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