Title/Vesting/Quitclaims Q: I am recently divorced from my spouse. He was awarded the townhouse which we both have interests in, and during the divorce proceedings, he refinanced the house. With the refinance, my ex has only his name on the Note, but my name is on the current deed and mortgage. Now, he wants me to sign a quitclaim to give up my interest in the townhouse. My concern is that if I do sign the quitclaim, will my name be taken off the mortgage also?
View Answer Q: I am close to a settlement in a really horrible divorce case. My husband is keeping the house. My name is still on both the deed and the mortgage. He wants me to sign over the deed to him now, but the bank will not remove my name from the mortgage. He says he can’t refinance for a year because his credit is bad. If I leave my name on the mortgage, but not on the deed, and he stops making the payments or dies, am I responsible for paying back the mortgage? Do you have any suggestions?
View Answer Q: I own my home with my husband and am on the deed. We are doing a refi and my husband says my credit is bad so I will have to sign a paper saying that the house is his so we can get a better rate. My concern is that if something happened to him who would get our home? I have children and don't feel comfortable with this.
View Answer Q: My former girlfriend and I purchased some land that included a double-wide mobile home and later purchased a single-wide mobile home as well. Both items were financed via joint accounts. We have since long split up, I moved away and she did as well. She rented out the properties and assumed control. Can I grant deed back my share of the properties to her and relinquish all responsibility to pay back the loan and have it removed from my credit report? If she is not willing to do this, is there another way I can force my hand?
View Answer Q: In my divorce my husband will retain the house and refinance to buy me out. Will the quit claim deed release me of any obligation to the mortgage holder in case of a foreclosure?
View Answer Q: Two years ago I assumed a loan on a house. I am currently trying to refinance, however can't get the lender to finance me because the deed of trust is still in the previous owner's name. I have read that when you assume a loan and the same interest rate that a new deed of trust is not recorded. How will I ever get my house refinanced and when will the previous owner's name come off the deed of trust?
View Answer Q: I have a deed to my home and changed it to read "as tenants by the entireties" next to my and my husband's names. I now refinanced the house and asked that the Deed of Trust also show this vesting but was told that a Deed of Trust does not state tenancy. Is this true?
View Answer Q: My boyfriend bought a home in his own name about three years ago, now we are married. Should I be on title too just in case of his death? I was concerned because I've heard stories about the state taking over the house and kicking me out even though I'm his wife.
View Answer Q: My mother lives in Kokomo, Indiana and has 3 houses with her man of 18 years. One house is in his name only but the other two are in his and her name. The problem is it is not her real name. They were going to get married and they were told to use what was going to be her married name on the papers so she did. Now he is hospitalized and his children are trying to take everything from her. Is she out of luck because of the name not being her legal name? What can I do to help her in this ugly situation?
View Answer Q: My parents purchased a condo as an investment. They intended to rent it out and sell it in a few years. I am moving back to the area and we discussed me renting the property and occupying it. I am recently divorced and my ex trashed our credit. I'm finally coming out of that, but understand that it will take some time to re-establish my credit and get the scores I am accustomed to having. My parents suggested that we investigate whether they could add my name to the mortgage, have me pay the mortgage and help rebuild credit. I can more than afford the payments. Is this something that can be done? If the name is just added to the title, but I am paying the monthly mortgage - would this be reported to the credit bureaus under all three names on the title?
View Answer Q: I hope you can help me. I am divorced and now remarried. My name is still on my ex-husband’s house that he lives in; I deeded it to him in the divorce so my name is not on title anymore. Early in the divorce I asked the credit union if I could take my name off the loan, they told me no. He cannot refinance due to many late payments, and it is holding up my credit to do anything with my husband. This is the only bad credit I have; everything else is perfect. How can I get the bank to just take my name off since I don't even own any of it; can they keep holding me for another 25 years?
View Answer Q: My husband and his ex-wife still have both of their names on a house that the ex is currently living in. She is now getting married and wants to let us resume the payments and take over the house. Since my husband's name is still the primary name on the mortgage, it shouldn't be that difficult. My question is how to go about getting the ex-wife's name off of the mortgage in the simplest way. We all have a wonderful relationship and would not like to ruin it with a big deal about the house.
View Answer Q: When my ex and I divorced we owned 2 homes. He took the larger one and I got the smaller one. The lawyer we used had us quit claim the deeds to each other. Well surprise, I wanted to buy an investment property and I can't get financed because my name is still on his mortgage. The bank states they won't let me off unless he refinances. He won't because all the lenders want to charge him about $4,000 to refi. He said since there isn't anything in it for him he could care less if the bank won't let me off the mortgage. He has had trouble trying to get refied because he owns his own business, and it hasn't been doing well the past few years so he doesn't show much income. The lenders he has tried won't take stated income. So, my question is how can I get my name off the mortgage? It's ruining my retirement and investment possibilities along with my credit. Any advice would be helpful.
View Answer Q: I am in a dilemma right now. Two years ago my husband and myself purchased a home, but because our credit was bad my parents took the loan out in their name, but both my husband and I have been paying the mortgage. The deed of the house is in my father, mother and my name.
Now we are wanting to refinance the home and put the loan and the deed in both my husbands and my name only. My parents will not sign the Quit Claim Deed without the mortgage being paid off first. They were informed that if they sign the Quit Claim Deed before we close on the house then they will still be responsible for the mortgage.
Can't all paperwork be done on the same day, meaning can't we have my parents sign the Quit Claim Deed on the same day that we sign off on the mortgage? I did not want to put the mortgage in my parents name because I feared these type of problems, now we are not on speaking terms and I feel very hurt that my parents would even think that I would take out another loan on a house that the mortgage was in their name. Please help me with a solution to this.
View Answer Q: Do both my husband and I have to be on a mortgage? We will soon be married, and my credit is very bad, his is good although my salary will be more than his. I do not want to "ruin" his credit and spoil our chances of getting a home, but cannot put it off forever. We have substantial assets and would be putting down a large amount.
View Answer Q: We have a daughter going to college and living on campus. Next year she will have to move off of campus because of a strong freshman enrollment. We would like to buy a house for her and two other college friends where the friends would pay rent. We prefer to put the title in her name (for tax purposes) because we would sell the house after she finished school. Since she only works part time and does not make much money can we get a mortgage that we will pay and have her as the owner.
View Answer Q: I bought a house in November of 2004 with my fiancé. He has recently decided to move out, and I'm left with a mortgage that I can't afford. We've only been in the house for 6 months. Am I able to refinance and remove his name? Can I sell the house after being there a short time?
View Answer Q: For family reasons, my husband and I had his mother's name (and only her name) put on title for a home we purchased two and a half years ago. We would now like to be added to the title (since we are actually the only ones currently living in the home, and she has come into quite a bit of money and wants to purchase her another home).
Will we incur any types of reassessment fees or gift fees, etc. if we are simply added to the title on the house? Also, if she would prefer that she be taken off title once we are added, is that also a simple process? What do you consider the best way to handle this entire situation, with the lowest out of pocket costs to all? Thank you for all your good advice.
View Answer Q: When a married couple purchases a new home, should both names be on the title? Would there be any legal problems if one should leave or die?
View Answer Q: First of all, I want to thank you for all your answers on your website. People have asked such great questions and your answers are so helpful.
After reading these questions, I have some questions of my own to ask. Two years ago, my cousin, Sue, and I co-signed a home for my sister, Lee. Lee gives me the money each month and I have been making payments for the home from my bank account. Sue is not involved in making payments. We recently refinanced the home but due to Sue's failing credit, she did not qualify for the refinancing. Thus, I refinanced the home with my name only. However, both Sue and I are still on the title.
With this in mind can I: (1) ask Sue to sign a QuitClaim Deed? She is a very nice person and I know won't have any problems with it. She has a tendency to be very bad with her money/credit and I am afraid that it may affect me one day, AND (2) once the title is under my name only, can I have my sister start making payments from her own bank account and thus show proof that she has been making payments for the next 12 months so that I can prove that I was just a co-borrower?
View Answer Q: I have recently purchased a house with my domestic partner. At the time of closing escrow, she was not put on title because all loans are solely in my name; however we are splitting everything 50/50. I am planning to add her to title now but not sure which is the best way to vest, especially being that we are domestic partners and that all loans are in my name only at this time. Can you help?”
View Answer Q: I inherited my parents’ house in San Francisco that is now a rental property. My property taxes are very low as I fell under the parent to child exclusion for a tax reassessment. I just had an offer accepted on land in Kauai; the title on the land will be in my name only. I am in the process of taking out a refi on the San Francisco house and paying for the land in Kauai in full.
My husband and I filled out the loan papers and qualified. There are no other liens on the property in San Francisco. Now, just before closing, the lender says that my husband needs to be on the title. I do not want him on the title and he does not want to be on the title because it is my inheritance. The lender says that it is California law that he must be on the title. Putting him on the title could trigger a tax reassessment resulting in an enormous increase ($7200/year). I do not think that he has to be on the title.
View Answer Q: I was in a 10 year partnership relationship and when it ended in 2001, we purchased property as joint tenants so that I could live there. We are both on the loan documents, but I am not listed on the title and now he is trying to evict me out of the house. He had agreed to pay the mortgage for half the time we were together (5 years), but now he is trying to evict me. What do I do?
View Answer Q: My husband and I recently bought our first home. Only my name appears on the mortgage. He was not listed as a mortgagor. We both signed the title. He claims that the house is now half his. Is it? I thought because I pay the mortgage, the house is mine. How does that work? Thanks for your help.
View Answer Q: I got married last year, and my wife has a house that she bought for her parents 4 years ago. The title is in her name, but her parents are making the payments each month. My questions are how this will affect our ability to buy a house as well as are there any tax liabilities or any complexities with IRS?
View Answer Q: I divorced my ex husband three years ago and got the house in the divorce. He wants his name off of the loan; he is no longer on the deed. I can't refinance since my interest is so low. I cannot afford to live here any more but have great credit and have made all the payments. I would like to rent it out. What are my options to getting his name off?
View Answer Q: My mom purchased a home for me because my credit is bad but I can afford the payments and now we need to add me to the loan because I can make the payments and she has not enough income. Is a quitclaim the best way?
View Answer Q: This is a hard one; in 1999 my mother-in-law and her now ex-husband bought a house. About three months later she caught him doing drugs and kicked him out, then a year later they got a divorce, it was a no contest divorce and she said she got custody of the house. Then she remarried and moved out and let me and my wife live in the house. We pay the mortgage every month directly to the mortgage company; we have done every repair so here is the thing. I want to get the house in my name and she doesn’t have a problem with it we just don’t know where he is. Is there anything we can do to get him off of the house?
View Answer Q: I, like most of the other writers, am going through a divorce. My husband had a year to refinance the house and get my name off of it, he of course said he's tried and no one will refinance him. My question is, aren't there other ways to remove my name from the house? If so can you direct me to some of the solutions so I can present them and get this divorce over with? Thank you for your help.
View Answer Q: My wife and I are on the grant deed for the home we're living in. The individual on the mortgage loan is someone we were introduced to by our real estate agent in an effort to eventually acquire this home. We are ready to refinance this home in our name, and have only our name on this deed. How is this done?
View Answer Q: In 1993 I and a partner purchased my current home as joint tenants. This year he decided to move back east to live and asked me to give him a signed statement that I assumed liability for the mortgage on the CA home. As I can afford it, I gave him a statement. Now I would like to refi in my name only and when the house is sold, give him a share of the proceeds. What do I need to do to get him off the mortgage?
View Answer Q: My ex-husband signed a quitclaim deed over to me. He had destroyed the inside of the house which made it unsalable and just walked away from it. The judge wrote up an agreement that he did not have an interest in the property or sale of the residence. I am still fixing this up. Will I have to remove him off the mortgage? Or can I just leave it the way it is and let him figure out how to get his name off? He has cost me a lot of money. I had to replace all the walls and carpet. I had no choice but to take over because I didn't want the house to go into foreclosure. I don't want to refinance because it would cost me even more money because I would have to pay a higher interest rate.
View Answer Q: My husband and I are divorced. The loan for the mortgage was in his name, but we were both on the title. Two weeks prior to the divorce, the house went into foreclosure. How will I be affected by this financially? Will this affect my credit? Can the mortgage company come after me?
View Answer Q: This matter is pretty URGENT, so hopefully you can help me answer my question as soon as you can. I'm currently going through a divorce and we have gotten to the phrase of division of property. My ex-husband and I bought our first house and we were married at the time, vested as a single man and single woman as joint tenants. At the time, he's on the loan only. We then did a cash-out refi and bought another house. When we did the cash-out refi on the first house, I have to sign a Quitclaim, because I'm not on the loan. Likewise, for the second house we bought, because I'm not on the loan the lender required me to sign a Quitclaim as well. So currently, both houses are vested in my ex-husband name "a married man as his sole and separate property". I didn't bother to add my name on it, thinking that we will not going down the divorce path. Is there anything you can suggest? Do you have any information regarding California lending law that states that "if you are not on the loan, you cannot be on title"?
View Answer Q: My father-in-law is going to be going through a divorce with his wife. They are both on the title to the home, although only she is on the mortgage loan. His credit rating is very poor so they said she was the only one who could be on the loan. His wife doesn't want the home and said he can have it. He is concerned he will not be able to get the mortgage in his name, and this home was built by his late father. What can he do? Does he have rights to this home? Is there anyway a judge can help so that he can get the mortgage in his name? Please help!
View Answer Q: My parents purchased a home for me due to a bankruptcy. They took out the mortgage and are the only owners listed on the title. I paid for all costs related to the purchase of the home, all of the improvements, and I also pay all of the mortgage payments. My bankruptcy has been discharged and I would like to eventually own the home outright, but I realize there may be issues. Is there a way to add my name to the title and eventually take out my own mortgage to own the home?
View Answer Q: About 5-1/2 years ago I bought a house with a good friend of mine. We split everything 50/50 and are both on the title and mortgage. I recently got engaged and want to be taken off the title and mortgage. We are not able to refinance because the house is no longer worth what we paid for it. What do I need to do? Also, my fiancé said he would add my name to his title. Is this a good idea? Please help! I'm so confused.
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