U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 07-22-2009, 09:58 AM
 
1 posts, read 9,578 times
Reputation: 15

Advertisements

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
Reply With Quote Quick reply to this message

 
Old 07-22-2009, 10:19 AM
 
Location: Up above the world so high!
45,095 posts, read 56,964,608 times
Reputation: 38293
Quote:
Originally Posted by aem52 View Post
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
Reply With Quote Quick reply to this message
 
Old 07-22-2009, 10:52 AM
 
3,002 posts, read 4,576,066 times
Reputation: 1930
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
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 08:37 AM
 
Location: North of Hell, South of Heaven.
310 posts, read 379,397 times
Reputation: 490
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.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 11:40 AM
 
Location: Up above the world so high!
45,095 posts, read 56,964,608 times
Reputation: 38293
Quote:
Originally Posted by Mattman704 View Post
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.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 11:44 AM
 
122 posts, read 293,884 times
Reputation: 115
We have set ours up that way too. Both names on the deed, only husband on the mortgage loan.
No worries.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 11:57 AM
 
1,751 posts, read 2,008,113 times
Reputation: 1750
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...
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 03:16 PM
 
Location: Up above the world so high!
45,095 posts, read 56,964,608 times
Reputation: 38293
Quote:
Originally Posted by LONGISLAND2NC View Post
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.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 08:30 PM
 
Location: Cary, NC
2,408 posts, read 7,436,891 times
Reputation: 1318
Quote:
Originally Posted by lovesMountains View Post
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.
Reply With Quote Quick reply to this message
 
Old 07-23-2009, 08:34 PM
 
Location: Up above the world so high!
45,095 posts, read 56,964,608 times
Reputation: 38293
Quote:
Originally Posted by DanielChang View Post
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.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina
Similar Threads
View detailed profiles of:

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top