How to add spouse to deed? (real estate market, rent, insurance) - Nevada (NV) - City-Data Forum

lv_spiff · 11-09-2011, 04:20 PM

I own a home here in Vegas and after getting married I would like to add my spouses name to the deed as a symbol of our commitment (that and she would get some tax benefits for being Blind). I still would be making payments on the mortgage and financed under my name only. She has her name on all the bills for water, electricity, cable, etc.

I've heard a Quit Claim Deed to a Transfer on Death Deed through searches online but I don't even know where to start at to get someone to prepare one of these forms (other than you can download them online). Where do I go? Is this the right step to take to make sure she can file for the exemption per NRS 361.085?

airics · 11-09-2011, 04:33 PM

i didn't know you could add a person to the deed if you are making payments...

trisha0608 · 11-09-2011, 05:27 PM

I did a quit claim after a divorce. Not sure if it works the other way around though.

logline · 11-09-2011, 06:42 PM

Quit claim deeds are pretty easy and cheap, but get a lawyer to do it to make sure there are no problems in the future.

elnina · 11-09-2011, 06:51 PM

Its called Quitclaim Deed ( or in some states a Warranty Deed )
Quit Claim Deed Forms | Form Downloads, Instructions, Recording Information

Call the title company that handled the closing when you purchased the house or you can call an attorney that specializes in Real Estate. All you have to do is sign an addendum to your deed saying that you want her name added. It only takes a minute. You don't have to contact the mortgage company ahead of time. She doesn't have to be on the loan to be on the deed. Just send them a copy of the updated deed after it is recorded with the courthouse.

MediocreButArrogant · 11-09-2011, 06:51 PM

While I was married to her, I added my ex-wife with a quit claim (I had bought the house before we were married). Then I removed her before I refinanced to a lower interest rate, because her credit was so lousy. As far as dividing the property for the divorce, my lawyer told me it didn't really matter that I took her name off the deed, because the judge cares about intent, and my intent in adding her was to give her half, but my intent in taking her off was just to get the loan in my name only.

The silver lining in the tanking real estate market was that I didn't have to write her a big check to get the house back. She owed me tens of thousands in rent because she stayed in the house for a couple years, which completely offset the gain in equity, and I got a judgment against her for the rest.

demoknite · 11-10-2011, 11:27 AM

Its entirely possible. Since she is blind you might want to spend the couple of grand on lawyer to make sure you get all the benefits you are entitled to. Or you could skip the lawyer part and just go straight to the title company and ask the same question to them as you did here.

Vegas Joe · 11-10-2011, 11:35 AM

I cannot figure out why you would want to do that. All you are doing to transferring a liability to your new wife. She does not benefit at all because, if you file married, the home interest deduction will still be the same. By putting her name on it, you are extending liability for the mortgage, insurance and taxes to her. And, if you are married to her and you die, she will get the home in any case.

dynimagelv · 11-10-2011, 11:38 AM

Quote:

Originally Posted by Vegas Joe

I cannot figure out why you would want to do that. All you are doing to transferring a liability to your new wife. She does not benefit at all because, if you file married, the home interest deduction will still be the same. By putting her name on it, you are extending liability for the mortgage, insurance and taxes to her. And, if you are married to her and you die, she will get the home in any case.

he wants to capitolize on the benefits that she receives on taxes because of being blind

jerseyru · 11-15-2011, 12:57 PM

Quote:

Originally Posted by Vegas Joe

I cannot figure out why you would want to do that. All you are doing to transferring a liability to your new wife. She does not benefit at all because, if you file married, the home interest deduction will still be the same. By putting her name on it, you are extending liability for the mortgage, insurance and taxes to her. And, if you are married to her and you die, she will get the home in any case.

I did one of these last year. I understand what your saying about transferring liability, but some people need to see their name on something to feel like they own it. To each his own. Anyway, it's pretty easy to add someone to a deed. Follow the instructions and fill out the "declaration of value form" in this link http://www.clarkcountynv.gov/Depts/r.../DV_Packet.pdf.
Once completed, take it down to the Clark county recorders office.