Can spouse who is not on mortgage documents still have name on contract? (tenant, fees)

[Bass101]

I found out that I do not live in a community property state.

So what should I do now? We are closing in 2 weeks! I think it's probably too late to update the mortgage documents now.

So to recap: my name is not on the mortgage application or documents, and now I'm told my name can't be on the contract or the title.

[njkate]

Originally Posted by manderly6

For both houses I bought in NJ my name was the only one on the mortgage documents, but my spouse's name was on everything else along with mine.

I was also informed it didn't mean squat in NJ whose name was on what when if it came time to split things up in a divorce.

Exactly...hubbie just refinanced even though I'm not on the mortgage, deed or contract he still would not have been able to move ahead had I not signed something...can't remember the legal title but basically to confirm I was aware of what he was doing...he can't even sell the place without me knowing

[Lacerta]

Can't he just close on it in his name and then quit claim from him to you and him the next day? Then you are on title.

My husband and I did this too, husband had too much debt, so I qualified and bought the house alone. But we are a community property state, so like rjrcm said, we had to have hubby sign a quit claim deeding the property to just me. I've never bothered quit claiming it back to both of us because he doesn't care, but I assume I could do that.

Note: I am not an agent, so someone please correct me if there is some reason this wouldn't work.

[2bindenver]

You can quit claim all or a part of any interest you have in any property.

Fill out the proper form to proper way, record it where the property is, then it's done.

[Bass101]

I have never heard of this quitclaim thing. Does the title company handle this?

Does that apply when you are not in a community property state? Apparently, I am in a common law state.

[2bindenver]

try this:

Quitclaim deed - Wikipedia, the free encyclopedia

It has nothing to do with community property or not.

What's your address? I can quit claim my interest in your property to my sister.

[rjrcm]

Originally Posted by Bass101

I have never heard of this quitclaim thing. Does the title company handle this?

Does that apply when you are not in a community property state? Apparently, I am in a common law state.

The title company should be able to help you.

[LCTMadison]

What we do in Alabama in that circumstance is have the attorney prepare a second deed (not a quit claim, a general warranty deed) to the property in both the spouse's names. The seller conveys title to the one spouse who is on the contract/mortgage, then the second deed conveys ownership from the one spouse to both. Make sense?

The attorney cannot file the second deed, since they represent the lender, so the attorney always suggests waiting a couple of weeks then taking the second deed and filing it at the courthouse. It usually costs anywhere from $50-$75 here to have the attorney prepare the second deed.

In AL mortgage docs, there is a statement giving the right to the lender to call the loan in full if they find that ownership of the property has changed, but generally lenders are not searching probate records for that information after closing. That could come up in a foreclosure situation, but by that point you are probably at the point of letting the bank have the property anyways.

[camrynh]

I don't know. We've bought 3 houses in 2 states, and I've never been on the mortgage application but have always been on the deed.

[altoidchicka]

Im in MD and the mortgage is in my husbands name but the title is in both of our names