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This was someone buying a home, this was listed in the counties recording documents. Immediately after the home was bought and recorded as "100% ownership, separate property" (in wives name), then another document was recorded as a "grant deed" listing the husband's name and the wives name (she as the grantee).
If the wife dies, or defaults on the loan, what happens?
Depends on the will.
There sometimes are good reasons for people to keep property separate in marriage. One biggie is second marriages relatively late in life, with two people who have had different established households, histories and wealth, with separate children and desires for separate estate planning.
When we bought our current house the mortgage and the deed were put in Husbands name only. Later we thought better of it and added my name to the deed with rights of survivorship, He is still only one on the mortgage.
If the wife dies, or defaults on the loan, what happens?
From a lender's perspective, it's not unusual at all. If one spouse has a terrible credit score and the other can qualify for the mortgage on his/her own, we'll do the loan with only one of them. Typically they'd add the other spouse to title at closing so the vesting is determined then, but sometimes they don't for various reasons. One time the spouse was going to be out of the state at the time of closing and it was inconvenient for him to sign closing docs, so they just left him off and added him later via deed.
It means whatever the realtor who wrote it thinks it means. Could be anything. Call them.
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