Home ownership?

posted 3 years ago in Home
Post # 3
Member
4513 posts
Honey bee
  • Wedding: October 2013

What are his reasons for not wanting to add your name?

Our house is only in my name. My FI has good credit, but I have very good credit and we got a slightly better rate by me buying it on my own. I am going to add his name on, I just haven’t gotten around to it. Plus it makes more sense to me to wait until we’re married so that I can update my name on the deed all at the same time.

It depends on your state, but I know in some states whatever you came into the marriage with is what you leave with – unless the other person starts to contribute to the home as well. For instance, if your FI has paid $50,000 toward the home before you get married then you marry and start contributing to the mortgage as well then he is entitled to that $50,000 plus half of the difference. Does that make sense? This is the type of situation my mother went through with her divorce.

I’m not sure what happens with the house being left to you if something happens to your FI. Maybe that could be specified in his will. This is one of my concerns and a reason that I want to add my FI’s name to our deed soon.

Post # 4
Member
279 posts
Helper bee
  • Wedding: June 2013

Even though only my name is on the mortgage, his name is on the deed to the home.

Post # 5
Member
5518 posts
Bee Keeper
  • Wedding: November 2012

Both of our names are on everything.  I had the cash and better credit but he had the job history,  I heard its not difficult to add someones name to a deed.  My mother added mine to her house several years after she bought it.

Post # 6
Member
5460 posts
Bee Keeper
  • Wedding: August 2012

I bought our house before we were married, so it is in my name only.  I was able to add his name to the deed, but in order to add his name to the mortgage I would have had to reapply and go through all the financing stuff all over again.  To obtain access to or the ability to make decisions regarding any marital property, I think you need a power of attorney.

Post # 7
Member
2696 posts
Sugar bee
  • Wedding: May 2014

Our home is in my name only, for interest rate purposes. Go with what makes the mortgage less, it’s more business and less emotional when it comes to financial matters.

Post # 8
Member
1779 posts
Buzzing bee
  • Wedding: June 2014

We are just going to apply to pre-qual and it will be only me on the mortgage but he will be on the title after we marry.

Post # 9
Member
2242 posts
Buzzing bee

Just his name is on the mortgage but both our names are on the deed/title.

Post # 10
Member
477 posts
Helper bee
  • Wedding: July 2013

The mortgage is under my name, but the Deed is in the process of being put under the name of our Trust.

Post # 11
Member
2649 posts
Sugar bee
  • Wedding: October 2010

@inspiration86:  I believe he can give you survivor benefits or leave the house to you in the event he dies, but that could have tax implications.

If he put the down payment on the house and has lived there for quite some time or otherwise made a substantial investment into the property, then, I can understand him wanting to protect his assets.  On the other hand, I would not want to pay half the mortgage or for improvements on a house I had no ownership in.

Have you thought about him selling his house and the two of you buying one together?  If he refuses, then you should pay him a set amount to live there and make him 100% responsible for repairs, maintenance, taxes, etc. 

if he’s just a “what’s mine is mine” kind of guy, be careful.

Post # 12
Member
9137 posts
Buzzing Beekeeper
  • Wedding: November 2013 - St. Augustine Beach, FL

@inspiration86:  In most cases to put your name on the house, you would need to refinance the house.  Technically in most states, property brought into a marriage belongs to the spouse who brought it into the marriage so he may not want it in your name for other reasons.  I would speak to a real estate professional or attorney to find out what your rights would be to that property in your state once married before speaking to your FI about it again.  I don’t know that I would want to pay on a mortgage to property I might not get if he were killed in a car crash tomorrow or in the event you divorced.

Post # 13
Member
917 posts
Busy bee
  • Wedding: July 2013

My name is on my townhouse, which we plan to rent and eventually sell. His name is on the house where we currently live. Once things settle down some and we get my house rented out, my plan is to have wills drawn up that make sure if something happens to one of us, the other one will be ok in terms of property.

Post # 14
Member
6273 posts
Bee Keeper
  • Wedding: October 2013

my home is in my name only, i bought it.

i do not plan on adding FI’s name to the title on this house. 

it will have to wait for the next house that we own together.

 

Post # 15
Member
7075 posts
Busy Beekeeper
  • Wedding: August 2012

I would check your state laws. Some consider it community property once you’re married and it would be split in the case of a divorce. Some will consider it all his since he purchased it before being married. He could always make a will that leaves everything to you.

Our home is only in my name because I purchased it before we were married.

Post # 16
Member
252 posts
Helper bee
  • Wedding: January 2013

we bought home after marriage. because of my poor credit, the house in not in my name. we split mortgage.  Because we are married, we own everything 50% anyway, so it really doesnt matter whose name is on what. 

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