Posted on: 25th Sep, 2013 06:47 pm
My fiancée is not on the mortgage or deed to our home. He put over half of the down payment on our home and continues to shoulder half of the expenses. I want to add him now that we have closed. What do I need to consider with regard to the lender and financial /tax consequences?
Hi StacyLynn!
Welcome to the forums!
You can use a quitclaim deed in order to add your fiancée to property deed. However, before taking any such step, you should inform the lender. Many a times, the lender may call the loan due if there is a change in property ownership.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
You can use a quitclaim deed in order to add your fiancée to property deed. However, before taking any such step, you should inform the lender. Many a times, the lender may call the loan due if there is a change in property ownership.
Feel free to ask if you've further queries.
Sussane
Welcome StacyLynn,
In order to know about the tax consequences, it will be better if you could get in touch with a tax adviser.
In order to know about the tax consequences, it will be better if you could get in touch with a tax adviser.