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My husband recently re-financed our home and now it is listed in his name only, as "a married man, as his sole and separate property"
What does this mean for me if something should happen to him, as in he would pass away? Or we get divorced?
He says now to correct it we would have to re-finance again.
I appreciate any help or advice anyone here could give me.
Thanks
AEM
My husband recently re-financed our home and now it is listed in his name only, as "a married man, as his sole and separate property"
What does this mean for me if something should happen to him, as in he would pass away? Or we get divorced?
He says now to correct it we would have to re-finance again.
I appreciate any help or advice anyone here could give me.
Thanks
AEM
Relax, you are okay What he did was strictly on the loan end, not the deed. A loan can be in just one spouses name but the house still belong to the couple. Being married gives you rights that he cannot sign away or change. He still needs your permission to sell it and if he dies as his spouse you inherit it. Go to the registrar of deeds and get them to give you a copy of the deed - as long as your name is on THAT (forget about the loan) you are just fine
yeah, I know for my house, the loan is only in my name but the deed has both of ours. The deed should not be affected by a refinance. You can verify the deed at you county office, probably online if they have their GIS maps on the counties website
Not being a fan of "no-fault" divorce states, and having been there for my parents' divorce and watching my Mother make of with property, money and assets that were not hers and that she did not earn, I can say with 100% confidence say that when I buy my home, it will be mine. Not my wife and I's house. Nope. Mine. Especially since I'll be the one buying it.
Not being a fan of "no-fault" divorce states, and having been there for my parents' divorce and watching my Mother make of with property, money and assets that were not hers and that she did not earn, I can say with 100% confidence say that when I buy my home, it will be mine. Not my wife and I's house. Nope. Mine. Especially since I'll be the one buying it.
Sorry Mattman, you better not buy a house in NC if you feel that way. In NC once you get married that house becomes half her's no matter what the loan paperwork says - she is automatically added to the deed - you can't sell it without her written permission and you cannot keep it all to yourself as an asset.
Not knowing anything about NC law, my guess is an issue could come up if something happened to both of you - his family could have more of a claim on the property than yours. I would double check that deed...
Not knowing anything about NC law, my guess is an issue could come up if something happened to both of you - his family could have more of a claim on the property than yours. I would double check that deed...
It's really a non-issue. By NC law the house is half hers - even if he had owned it alone before he married her.
Sorry Mattman, you better not buy a house in NC if you feel that way. In NC once you get married that house becomes half her's no matter what the loan paperwork says - she is automatically added to the deed - you can't sell it without her written permission and you cannot keep it all to yourself as an asset.
It's not true that "she is automatically added to the deed." What is true is that a wife may acquire a marital interest in real estate owned by the husband after they become married.
The forms of ownership (whether a tenancy by the entirety, tenancy in common, joint tenancy, or ownership in severalty) will be specified and spelled out when the property is conveyed (and recorded in the deed). It's a "good idea" to consult a lawyer if you have confusions about how the property is owned.
It's not true that "she is automatically added to the deed." What is true is that a wife may acquire a marital interest in real estate owned by the husband after they become married.
The forms of ownership (whether a tenancy by the entirety, tenancy in common, joint tenancy, or ownership in severalty) will be specified and spelled out when the property is conveyed (and recorded in the deed). It's a "good idea" to consult a lawyer if you have confusions about how the property is owned.
You are right and phrased it much better than I did I should have been more careful to say she's has a "marital interest", not that she is automatically added to the deed. The end result is the same though. The house is not just his because he changed the loan terms. That's the main thing I was trying to convey.
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What he did was strictly on the loan end, not the deed. A loan can be in just one spouses name but the house still belong to the couple. Being married gives you rights that he cannot sign away or change. He still needs your permission to sell it and if he dies as his spouse you inherit it. Go to the registrar of deeds and get them to give you a copy of the deed - as long as your name is on THAT (forget about the loan) you are just fine 
