cosaxteacher
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No, the names on the mortgage must match the names on the deed. |
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Casey M
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it goes by whose name is on the deed. since both husband and wife's name will be on the deed they both own it. |
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imhm2004
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mortgage is in my spouse's name and the house deed is in both our names! we live in connecticut I have no idea about other states. |
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voandginger
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Yes, The deed is who owns the property and you do not have the deed until the mortgage is paid. However, depending on state laws, both would be entitled to half the equity from the sale of the property in a divorce. |
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Me
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I have been told that my husband can "buy" the house and we both be on the deed because Texas is a shared property state? Who knows if that was accurate info. Whoevers name is on the deed is the owner so if you both are on it then it would have to be split, but that could vary by state. |
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Reaper King
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yes. mortgages can be in either one or both names depending on how you do it. the deed can be the same thing. technically speaking, you both own the house but SHE is the one financially responsible for it. meaning if the mortgage defaults, it's not on your head, just hers. |
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pentalityism
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Its whoevers name is on the deed... |
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kja63
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Yes, they can be separate.
When I divorced, my husband signed the land over to me for $1. The deed was in my name only. The mortgage was still in both of our names as my lawyer arranged for me to have 5 years to refinance the house. Once I did, the mortgage was in my name only. We both owned the home (I owned the land) until I refinanced. |
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Izetriyen
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Yes, the mortgage can be in one person's name and husband and wife's names on the deed. Once your name is on the title deed...proceeds will also be in both names.
Both have to sign off on the sale of the house.
The bank owns the home until the mortgage is paid in full. |
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Boricua Chic
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Both names should be on the mortgage. Proceeds go to whoever is on the deed. |
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Tawnee S
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You'd better start being REAL nice to your wife. |
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