wizjp
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Depends on the state as to the language, but he should have you added to the deed; usually a deed of gift from him into him and you as h/w joint tenants with right of survivorship. Puts you in title to the house in most states without an issue with probate. Being added to the mortgage is pretty much at your discretion.
If he dies you won't owe a mortgage; the estate will be responsible for settling it, probably by selling the house to pay it off if you haven't been added to the mortgage. Your position as heir will vary from state to state, but in any case, you'll probably have to sell or work out some type of arrangement if you don't sign onto the mortgage and deed as co-owner |
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bostonianinmo
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It would go to whomever he leaves it to in his will. If he dies intestate, it will be deterrmined by the state.
BTW, it's not "God forbid" on his passing. It is a certainty. He WILL die someday. You and he must plan for that. At the very least you need wills. And he needs sufficient life insurance to pay off the mortgage if he dies before it's paid off or YOU will have to make the payments when he dies.
Consult with an attorney and get your legal and financial houses in order. |
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goldengrain
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Make sure the house is willed to you.
You would have to pay the mortgage, but the house would be yours.
In some states if there are kids, they may automatically share in the estate unless the will explicitly mentions them and he leaves at least a token (just a dollar or so) to them in the will.
If there are no kids, just get a will leaving all your possessions to him and vice-versa. Be prepared to make some provision who to leave everything to (maybe a charity) if you both die.
I am not a lawyer, but I think this is right. |
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scout485
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If he has a will that is not up to date, it might result in the property going to someone else. Need to make sure it is current, especially if he has kids from a previous marriage or relationship--they would be entitled to the property equally with you in most states, though you could still live there. But someone would need to pay the mortgage. |
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GEEGEE
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Does he have a will, or children from a prior marriage? Maybe he has plans to leave the house to them. The only way for you to know for sure is to ask him, and talk about what his intentions are re financial issues. You surely, as his spouse have a right to know, but you don't necessarily have a right to his possessions. Did you sign a pre-nupt? Did he? You should have had this talk before you got married. |
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SAPPER
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Why do you ask strangers? Talk him about it! |
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tacyella
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he should have a will that covers all that... |
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flywho
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Depending on the laws in your State, if he died, the house would go to his heirs (children).
You can go to a title company and have the deed rewritten as a 'joint tenancy with right of survivorship' in both your names. This way, no matter who dies first, the other gets the house.
And don't put any trust in a will. In an estate with a value of over $30,000, it goes to probate, and the state eats up at least 8% in fees before anything in the estate is released to the survivors. This process can also take a year!
Joint tenancy deed is best. You may consider putting all the other assets into a living trust - that will circumvent probate. |
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Scott K
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it would go through probate if he doesnt have a will and the court would award it (and the mortgage) to someone in the family |
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Samantha D
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The obviouse answer to this question is that if you have no proven ownership to this home, then you arent entitled to it and are not responsible for the mortgage. |
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charlotte q
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You need to set up a living trust ASAP.
If he has children and he dies they will get the house.
A trust will allow you to live there the rest of your life and then pass to them.
If he is not willing to do any estate planning then you have a real problem on your hands. |
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Nunoyvgvna Awi
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should still fall over to you for responsiblity due to the fact you are his legal wife, whether on the paper or not.
But I would make sure its in the will for the house to come to you or the kids and never hurts to call the bank or attorney just to make sure. |
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joe citizen
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the banks love you. you wont get the house unless you are bequeathed it but youll owe the morgage. lovely huh? |
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