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My husband has a mortage on our house in his name only. He is ill and I may need to get my name on the mortage. How do I do this. We really do not have a lot of money for lawyers, the last one charged 1200.00 for a POA. Please help.

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Just a couple of days ago, my husband and I purchased the house and signed the mortgage deed and note at the Title Agency in Ohio. My husband is upset that I put my name first on all the documents and his second. Is there a way to correct this so that on the public records (survivorship deed) it shows husband and wife names instead of wife and husband order.

Like | Dislike | Share | Posted: Sat, 03/24/2012 - 14:09 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome geo,

You can use a quitclaim deed in order to change the order of the names. Nevertheless, you can even contact a real estate attorney and take his opinion in this matter.

Thanks

Like | Dislike | Share | Posted: Mon, 03/26/2012 - 00:50 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

adding our son to loan & title during refinance of home loan involves
gift tax or does not involve gift tax.This is a joint property in the name of me & my wife.This is a residential property. We all ( me,my wife & my son) are living together on this property.

Like | Dislike | Share | Posted: Sun, 09/16/2012 - 12:13 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi surinder,

As far as I can understand, it may involve gift tax. Nevertheless, it will be better to contact a tax adviser and take his opinion in this regard.

Thanks

Like | Dislike | Share | Posted: Mon, 09/17/2012 - 00:15 | Post subject:

colin's picture
colin | Joined: June 30, 2006 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Garfield,

Welcome to Mortgagefit forum.

To get your name included in the mortgage the lender will require the mortgage to be refinanced.

Also your name should be on the title of the house before the lender would agree to it, for that your husband can make out a [url=http://www.mortgagefit.com/quitclaim-deed.html]quit claim deed[/url] to transfer half share of house interest to you.

A quit claim is one of the easiest ways to have someone's name included on the property title and is not very expensive also. Let me know if you have any other questions.

I also hope that your husband gets well soon and both of you have a prosperous new year.

Colin

Like | Dislike | Share | Posted: Fri, 12/29/2006 - 10:50 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My in-laws own land on which my wife & I are going to build a house. They (my in-laws) have agreed to a quick claim deed in order to get our (my wife & I) names on the deed to the property. Are there any tax ramifications for either of us? How do we get their name off the deed once construction is done? Thanks

Like | Dislike | Share | Posted: Fri, 12/29/2006 - 20:32 | Post subject:

Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Garfield,

Instead of going for a refinance, your husband can transfer the loan to you by the process of [url=http://www.mortgagefit.com/know-how/novation-mtg.html]novation[/url]. This is because refinance involves a lot of costs almost similar to what you have paid for the first loan.

You may go through a previous thread where our Community had started a discussion over Novation.

Please feel free to share further doubts or queries.

Wishing you a happy new year

Caron.

Like | Dislike | Share | Posted: Sat, 12/30/2006 - 12:37 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Bass.

You can get your name off the land again by a quit claim deed. But if you wish to own the house, I"ll say its better to own the land also. Otherwise, you may have trouble taking loans against your home in future.

Regarding tax implications, you will have to pay property taxes as long as the property (including land and house) is in your name. For the details, you may check out discussions on Tax implications of Quit Claim.

Like | Dislike | Share | Posted: Sat, 12/30/2006 - 12:53 | Post subject:

Samantha's picture
Samantha | Joined: September 16, 2005 11:59 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Bass,

The recipient (person receiving property) may need to pay real estate excise taxes while the transfer is made. If there is mortgage against the property at the time of transfer and the recipient assumes the loan, then he should pay excise taxes on the balance of the debt.

However, if the property is transferred free and clear of any mortgage debt, then real estate excise tax is not due.

In your situation, if you get the property free of any mortgage, then you need not pay excise taxes.

Hope this will help you.

God bless you.

Samantha

Like | Dislike | Share | Posted: Sun, 12/31/2006 - 07:32 | Post subject:

Caron's picture
Caron | Joined: July 19, 2005 08:37 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Bass,

Depending upon the state laws, you may not have to pay tax for the transfer of title from your in-laws to you and your spouse. This is because both of you will not be paying the in-laws any money in return.

The transfer of property from your in-laws will be treated as a gift as you are not paying them any cash. You need not pay the gift tax nor is it required to pay income tax on the gift. Your in-laws may have to make payments on gift tax if they don't qualify for the exemption limit.

Hope this is now clear to you.

Happy New year!

Caron.

Like | Dislike | Share | Posted: Sun, 12/31/2006 - 08:04 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and his sister were left their fathers' home in his will. His sister sold her 1/2 to their mother who had been divorced from their father for some time. The deed now shows ownership as my husband and his mother. Being his wife, do I also have ownership of the house although my name isn't on the deed. We reside in Michigan.

Like | Dislike | Share | Posted: Sat, 02/16/2013 - 11:28 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My boyfriend is paying on his own home.If i marry him,can he put me on the deed,or only leave the house to me in a will?

Like | Dislike | Share | Posted: Sat, 10/04/2008 - 07:46 | Post subject:

lisa.scherzer's picture
lisa.scherzer | Joined: January 4, 2008 08:48 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

A title company can prepare the deed for much less. Typically for about $50. This is a good comprimise between trying to do it yourself (and possibly messing up) or overpaying an attorney to do this.

Like | Dislike | Share | Posted: Sat, 10/04/2008 - 21:23 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my fiance is buying a house when we get married can he add my name to the deed and does that give me ownership rights? my credit is not good so he is buying the house using his credit.

Like | Dislike | Share | Posted: Wed, 10/08/2008 - 07:34 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Wanda!

Yes, you will get ownership rights once your name is on the deed.

Thanks,

Jerry

Like | Dislike | Share | Posted: Fri, 10/10/2008 - 05:09 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

wanda, when he purchases the home, he will be promising to the lender that he will pay his loan in full if he transfers title. adding you to the title will constitute a transfer. he may want to discuss this with his lender, his attorney, etc. prior to the closing to ensure that there are no difficulties arising from this plan.

Like | Dislike | Share | Posted: Fri, 10/10/2008 - 07:30 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my husband and i am divorced but he lives in the house the mortgage note is in my name only, but in florida if you are maried the other person has to sign the mortgage wich he did. when we divorced we did not change anything on the house. i thought he was on the deed. he has done some remodeling and did not pull permits, because he did not know he had to. now we have violations and permits have to be pulled to continue and even to take some things down. my problem is i do not live there and they say the owner has to pull the permits i am out of state.
is there anyway i can add him to deed so that he is also a owner so that he can pull the permits he needs. can i give him a power of attorney to pul permits on my behalf if i can not add him to the deed. there is a mortgage on the house in my name only and the clerk told me to quit claim or add him he has to pay taes on the remaining balance of the loan. if i add him he has to pay half tax and if i give it all to him he has to pay all the taxes on it.
please advise.. the property is in florida
thanks

Like | Dislike | Share | Posted: Fri, 12/12/2008 - 12:10 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I think you can add him to the deed of the property with a quitclaim deed. You may even give him a power of attorney so that he can pull the permits on your behalf. But you should note that this will give him full rights to the property as you are enjoying right now.

If you quitclaim the whole property to him, there are chances that the lender will ask him to refinance the mortgage in his name. In that case, he will also have to pay the property taxes because he is the owner of the property.

Like | Dislike | Share | Posted: Sat, 12/13/2008 - 00:55 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I would like to add our son's name to our deed. He is our only child left.

Like | Dislike | Share | Posted: Tue, 01/06/2009 - 07:58 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome pacer,

You can add your son's name to the property deed with the help of a quitclaim deed. You can find the sample quitclaim deed forms online but it will be better if you can consult an attorney and draft it from him. Once the deed is filled out, you will have to notarize it and record it at the county recorder's office.

Like | Dislike | Share | Posted: Tue, 01/06/2009 - 23:40 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my partner and i want to add each other's names to our condos, that we each own separatly. we purchased them both at the same time, and same price, but didn't have both names put on them. will there be gift tax consequences? both properties have mortgages. can we just quitclaim eachother to the deeds? thank you. jjj

Like | Dislike | Share | Posted: Wed, 03/04/2009 - 18:37 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi jj,

I found a similar topic discussed on the followging page. Hope this will help you:
http://www.mortgagefit.com/quitclaim/florida-taxconsequences.html#80730

Please feel free to ask further queries, if you have any.

Thanks,

Jerry

Like | Dislike | Share | Posted: Thu, 03/05/2009 - 04:25 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

If the mortgage is in my husbands name can he add my name to the deed without it affecting the mortgage

Like | Dislike | Share | Posted: Thu, 04/02/2009 - 06:47 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

There is a due-on-sale clause with most of the mortgages which implies that if any change is made in the title, the lender will have the right to ask you to pay off your balance loan amount. Thus, if you want to make a change to the title, inform the lender. Generally the lender would like you to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] the property in both of your names, if he adds you to the title of the property.

Like | Dislike | Share | Posted: Thu, 04/02/2009 - 07:28 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i think its more likely that you can add your name to title without the need to refinance. though your lender will, indeed, have a due on sale clause, you're not removing their borrower but merely adding yourself.

Like | Dislike | Share | Posted: Thu, 04/02/2009 - 07:38 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my husband and i are married ,but he bought the house before we got married.how can he add my name on the deed and where would we go?also whar would happen to the house if something were to happen to him before we would get this done,would i still get the house or what because he has to kids with first wife would he get divided?

Like | Dislike | Share | Posted: Mon, 04/27/2009 - 07:18 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

sorry typo .would IT get divided

Like | Dislike | Share | Posted: Mon, 04/27/2009 - 07:21 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

Your husband can add you to the title through a quit claim deed. If you are not added to the title and, God forbid, your husband passes away, you'll not inherit the property straightaway unless it's a community property state. You will then have to file an affidavit of heirship to get the ownership of the property.

Like | Dislike | Share | Posted: Tue, 04/28/2009 - 07:08 | Post subject:

eric1's picture
eric1 | Joined: January 4, 2009 03:52 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

In addition, you asked how the estate would be divided. Once you get your name on the deed, that should get you a half share in the home should he pass away. His half share would be determined by his will. It would be a good idea to discuss how that should be handled and get it in writing so that you do not have a feud with his kids.

Like | Dislike | Share | Posted: Tue, 04/28/2009 - 07:58 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband recently passed away leaving all personal and real property to me. He purchased the house in his name only 15 yrs ago. We married in 94 and shortly thereafter refinanced the house to a shorter term mortgage. Only problem I was never put on the Title so I'm on a mortgage at the bank but not on the title. Its left to me in the will , will I have to pay gift taxes. I am the sole beneficiary.

Like | Dislike | Share | Posted: Fri, 05/15/2009 - 16:54 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

If your husband has left the property in your name in a will, you'll need to probate the property so the title can be changed in your name. You need to consult a probate attorney regarding this. You do not have to pay any gift taxes for the change of title.

Like | Dislike | Share | Posted: Sat, 05/16/2009 - 05:41 | Post subject:

haridas_badhe's picture
haridas_badhe | Joined: May 11, 2009 06:44 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

welcome pacer,
You can do file for Quit Claim Deed to add your ypur son onto the deed.For that you take advoice from Agent or local officer.For this you may be charged so try to investigate.And this charge amount is varies by country.

You can go through "http://www.ocgov.com/assessor/forms.asp#transfer"

Thanks
Hari

Like | Dislike | Share | Posted: Mon, 05/18/2009 - 05:44 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My ex bought a home for my daughter and her husband. The home is in my ex's name . His last wife's name is on the loan. He is now with a terminal illness. He is retired. H e now wants me to help him refinance , to lower pmts. How can this be done with his ex on the loan. He has paid her back her money and this was done by his attorney. He says once I refinance her name will come off. Will my name be on the deed as well.

Like | Dislike | Share | Posted: Wed, 05/20/2009 - 16:18 | Post subject:

jenkin7's picture
jenkin7 | Joined: June 4, 2007 11:02 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi ew,

When you refinance in your name, your ex's last wife's name will be removed from the loan. You will then become responsible for the loan. If you want to have your name on the deed, your ex who is now on the title needs to transfer the ownership to you through a deed.

Like | Dislike | Share | Posted: Fri, 05/22/2009 - 02:06 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I AM A WIDOW. MY HUSBAND'S NAME IS STILL ON THE DEED TO MY HOUSE. I WOULD LIKE TO ADD MY DAUGHTER'S NAME. I AM STILL PAYING ON THE MORTGAGE WHICH WILL BE UP IN 3 YEARS. CAN THIS BE DONE? I DO NOT WANT TO RE-FINANCE

Like | Dislike | Share | Posted: Tue, 06/09/2009 - 12:45 | Post subject:

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Doris,

You can add your daughter's name to the title using a quit claim deed. However, since the deed is still in your deceased husband's name, you first need to change it in your name. Are you listed on the title along with your husband? Has he left any will for the property?

Thanks,

Jerry

Like | Dislike | Share | Posted: Thu, 06/11/2009 - 06:53 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

what to process add a name in property like son

Like | Dislike | Share | Posted: Wed, 07/01/2009 - 08:47 | Post subject:

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi

The process to add your son to the title is simple. You need to sign a quit claim deed as a grantor, where you'll be transferring the ownership to either both you and your son or to your son alone. Then, you need to get the deed notarized and recorded with the county recorder's office.

Like | Dislike | Share | Posted: Thu, 07/02/2009 - 07:03 | Post subject:

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