Posted on: 13th Aug, 2012 03:21 pm
My husband bought our house prior to us meeting, so his name is currently the only one on title. We are refinancing and the mortgage company said that we do not need a deed to put add myself on title and ownership of the home, that the Deed of Trust will take care of that. There is nothing in the Deed of Trust that states I will be part owner only that I am a borrower and John is my husband. We will have no Deed(quitclaim, no consideration and no affidavits) stating I am owner with my husband. If anything happens to him I don't want to be hung out to dry on a loan for a house I don't own. I also don't want it to become a title problem down the road if we ever sell. They said the Deed of Trust will take care of all of that, are they right?
Hi RH!
Welcome to forums!
You can ask your husband to draft a will mentioning you as the beneficiary of the property. This will help you in claiming the property after your husband's death.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can ask your husband to draft a will mentioning you as the beneficiary of the property. This will help you in claiming the property after your husband's death.
Feel free to ask if you've further queries.
Sussane
Hi RH,
You can even contact a real estate attorney and take his opinion in this regard. The real estate attorney will let you know whether or not the deed of trust will take care of the ownership issues.
You can even contact a real estate attorney and take his opinion in this regard. The real estate attorney will let you know whether or not the deed of trust will take care of the ownership issues.
Hello RH,
Deciding whether one of you will keep the home, whether it will be sold, and who will receive any related debt or home equity can be tricky.
:idea:
Deciding whether one of you will keep the home, whether it will be sold, and who will receive any related debt or home equity can be tricky.
:idea:
Why are you being added to the mortgage NOTE as opposed to the mortgage DEED? Latter would be needed in states which assign spousal (dower) rights to “clear†title in a foreclosure but you can do so without becoming obligated on the debt.