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salsalover39 · Joined: 02 Feb 2010 Posts: 2 1.65 Dollars($)

Wife signed an interspousal transfer deed when we purchase our home, property was recorded as sole propietary only in my name, 6 months later I refinance loan with a different lender,new note and deed was created,will this cancel the interspousal transfer deed my wife signed when we purchase the house?
Didn't my wife need it, to sign again a quit deed in order for me to, be a sole propietary on the house
Since Lender didn't ask her to sign anything, does she gain back her rights as a community property?

gmakerley · Posted: Tue Feb 02, 2010 10:42 am Post subject:

in my estimation, the new loan had nothing to do with how title is established. the lender wouldn't have needed to ask her to sign anything, since she is, presumably, no longer an owner of the property.

i don't comprehend how she'd end up being an owner again if all you did was to refinance.

salsalover39 · Joined: 02 Feb 2010 Posts: 2 1.65 Dollars($)

she still not in the title or any other documents(mortgage)
the reason why she was not in the deed, in the begining was because she have only have an ITIN number wich is not a SSN ,I wanted her to be in the deed,how can I include her?

gmakerley · Posted: Tue Feb 02, 2010 10:58 am Post subject:

if you have a lawyer, that's who you should confer with. i'm not possessed of any legal expertise, so cannot provide any specific advice.

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This is very interesting information here. I wish I had found this first before I signed up for the other one. This is much better!

raymond · Posted: Tue Feb 02, 2010 4:37 pm Post subject:

>>will this cancel the interspousal transfer deed my wife signed when we purchase the house?

Yes. Everything you do with the new mortgage completely overwrites what you did with the previous mortgage.

>>Didn't my wife need it, to sign again a quit deed in order for me to, be a sole propietary on the house. Since Lender didn't ask her to sign anything, does she gain back her rights as a community property?

If you're living in a community property State, half the house is hers by deafault, regardless of if you're the only name on Title. It appears in both your mortgage transactions you're the only one on Title. The proper way to protect your wife is via a Living Trust. It'll ensure Title is legally transferred to her in case you die.

gmakerley · Posted: Wed Feb 03, 2010 10:17 am Post subject:

now raymond i don't pretend to know anything about interspousal transfer deeds, but why would a mortgage eliminate or override what that deed did? what am i missing?

raymond · Posted: Wed Feb 03, 2010 11:15 am Post subject:

Because they're associated with a specific transaction and the disclosures follow the file. If it's an FHA program, it's required by the Investors to ensure the file gets insured.

During the past 6 years I've only been conditioned for that disclosure twice, and in both instances only one of the spouses was going to be on Title.

gmakerley · Posted: Wed Feb 03, 2010 11:54 am Post subject:

thank you...a little more to add up in this brain of mine.

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if i buy my wife out of our house can she inherit the house when i die

jameshogg · Posted: Thu Feb 18, 2010 11:19 pm Post subject:

Hi buddy,

If you buy out your wife, then she will transfer the property to you. Thus, she will not remain an owner of the property. If there are no other heirs to your property, then she will be able to inherit it by filing an affidavit of heirship. If there are other heirs, then you can draft a will and declare them as the beneficiary of your property.

Thanks

gmakerley · Posted: Fri Feb 19, 2010 12:16 pm Post subject:

but a "buyout" of a wife typically involves a divorce action...is that the case here? if it is, then she'd have no inheritance rights, i don't believe.

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Quit Claim Deed, need to sign again?