Mortgage in both, title in one

[pizza1253]

What is the name of your state?What is the name of your state? Michigan

My husband and I are buying a house. The mortgage is going to be in both of our names but he wants it titled in just his name. Is this even legal? He's afraid if down the road, I leave him, which there are no plans for at all, we have a great relationship, I'll try to take the house. This wouldn't happen, I couldnt afford the house on my own and would want something smaller anyway. Is there some way around this? We didn't have a pre-nup, but if we got a post-nup now, would that be an option?

 

[I AM ALWAYS LIABLE]

What is the name of your state?What is the name of your state? Michigan

My husband and I are buying a house. The mortgage is going to be in both of our names but he wants it titled in just his name. Is this even legal? He's afraid if down the road, I leave him, which there are no plans for at all, we have a great relationship, I'll try to take the house. This wouldn't happen, I couldnt afford the house on my own and would want something smaller anyway. Is there some way around this? We didn't have a pre-nup, but if we got a post-nup now, would that be an option?

My response:

He's pretty smart, and you'd be damn stupid to agree to this incredibly brilliant plan of his. Own the house, and saddle the old lady with the debt. Real neat trick, if you can get away with it.

Do not buy a house with slimy. You're asking for trouble.

IAAL

 

[luvmy5kids]

What is the name of your state?What is the name of your state? Michigan

My husband and I are buying a house. The mortgage is going to be in both of our names but he wants it titled in just his name. Is this even legal? He's afraid if down the road, I leave him, which there are no plans for at all, we have a great relationship, I'll try to take the house. This wouldn't happen, I couldnt afford the house on my own and would want something smaller anyway. Is there some way around this? We didn't have a pre-nup, but if we got a post-nup now, would that be an option?

If the mortgage is going to be in both names so should the title. Why would you want your name attached to such a large debt but not have your name attached to item? Regardless of your decision, this is property acquired during the marriage (Marital Property) which means whether you divorce or not, it's still legally your home. Actually if you divorce and your name isn't on the mortgage that means he has to pay alone BUT you will be entitled to half the equity in the home. Should you have children you (like my sister) could possibly keep the home until your children all turn 18. By the way, her husband has to pay half the mortgage too along with child support. Think clearly....these days nothing is clear cut. Happy Holidays.

 

[LdiJ]

What is the name of your state?What is the name of your state? Michigan

My husband and I are buying a house. The mortgage is going to be in both of our names but he wants it titled in just his name. Is this even legal? He's afraid if down the road, I leave him, which there are no plans for at all, we have a great relationship, I'll try to take the house. This wouldn't happen, I couldnt afford the house on my own and would want something smaller anyway. Is there some way around this? We didn't have a pre-nup, but if we got a post-nup now, would that be an option?

In many states the mortgage company wouldn't allow that. However there is absolutely NO WAY that you should agree to that. It would be utter financial stupidity (sorry to be so blunt). You also shouldn't sign a post-nup giving up your share of a marital asset either. You would be entitled to half of the equity if you split up. He can still keep the house and buy you out of that is what he wants to do.

 

[nextwife]

Is there a legal reason that would cause you or he to want to keep your name off title? Liens, judgements. pending legal actions? Do you pay CS? If so, is that part of his concern?

 

[lillytoo]

don't do it

If you did get divorced and he gets the house your name is on a lot of debt (would probably ruin your chances of getting a loan too)...for some reason my sister's husband tried to talk her into the same thing excdpt he actually wanted to put the title in his own kids' names by his first marriage?? that ain't love either..

 

[EmuMessenger]

There is no reason to not have you on the title, especially, if you are going to be on the mortgage.

Is he able to qualify for the mortgage without using your income/credit? There may be another issue he is hiding.

Regardless, GET YOUR NAME on the deed.

Best of luck.

 

[nextwife]

There is no reason to not have you on the title

Neither you nor I KNOW the answer to that, from a title perspective. It is likely there may indeed be no reason, but, as I have not searched the title, I can't KNOW that there is NO reason.

If a spouse does go on title with a lien/judgement of consequence against them, it attaches to the real estate. Which is why I asked. I have seen situations in which a spouse stayed off title because of such concerns, so that s current debt or pending legal action against them would not endanger the house..

 

[EmuMessenger]

Neither you nor I KNOW the answer to that, from a title perspective. It is likely there may indeed be no reason, but, as I have not searched the title, I can't KNOW that there is NO reason.

If a spouse does go on title with a lien/judgement of consequence against them, it attaches to the real estate. Which is why I asked. I have seen situations in which a spouse stayed off title because of such concerns, so that s current debt or pending legal action against them would not endanger the house..

You are correct. I made a broad-stroke assumption there were no pending/outstanding judgements or charge-offs that may result in a lien.