Question (first time home buyers like the Legal requirements) (real estate, credit rating)

[hemu001]

Hi i need some information for the first time home buyers like the Legal requirements ....as per nc state law...i am married and filing my taxes jointly but i wish to buy the house only with my name on it any help ....My wife is a home maker i am nto sure if this makes any difference...
Appricaite your help ...

[MikeJaquish]

You will be able to buy the property and have it deeded only to you.

However, if you later wish to sell the property, you will find that your wife will have to agree to sell since, by law, she will have an interest in the property.

[LRoyal10900]

And if you were to drop dead, it will make life MUCH easier on your wife if her name is on the deed.

[CHTransplant]

And if you later divorce, the fact that her name is not on the deed does not mean the property is not marital property.

Lots of issues at play when it comes to spouses and real property - real estate law, estate law, divorce law. Presumably there's some reason behind your desire to not put your wife's name on the deed. To confirm your objectives and ensure they can be met, it's best to consult with an attorney.

[WordWrangler]

I'm assuming from the way you framed your question that you want to put your name only on the loan documents, perhaps due to a lower credit rating for your wife? You can do that (or at least you could when we did it) and also have her name on the title, if that is the way you wish to go, too.

[wheelsup]

Originally Posted by WordWrangler

I'm assuming from the way you framed your question that you want to put your name only on the loan documents, perhaps due to a lower credit rating for your wife? You can do that (or at least you could when we did it) and also have her name on the title, if that is the way you wish to go, too.

When I bought my house I used my credit and income to buy the house, but NC state law requires the wife to also be on the deed, or so I was told.

[angie313]

NC State law does nto require her to be on the deed or on the loan, but she will have to sign the deed of trust and the note, as she does have a marital interest in the property.

[senalj]

I have a question along the same line. I'm currently single and buying a house. In the state I came from, if I were to get married while I owned my home (that I bought before getting married), I'd have to get my new husband's permission to sell and he'd be entitled to some of the profit. Can anyone tell me the ramifications of buying a house as a single person and getting married before selling?

Thanks!

[VickiR]

Originally Posted by senalj

I have a question along the same line. I'm currently single and buying a house. In the state I came from, if I were to get married while I owned my home (that I bought before getting married), I'd have to get my new husband's permission to sell and he'd be entitled to some of the profit. Can anyone tell me the ramifications of buying a house as a single person and getting married before selling?

Thanks!

It is the same situation in NC.

You can buy while single but once you are married, spouse owns his share. It will require the spouse's signature to sell and spouse would be entitled to his share of the property. If you had a pre nup, that would make things somewhat different but you'd have to get an attorney to explain that.

Vicki

[senalj]

Thanks, Vicki!