No. I went through this very same situation. I kept my maiden name and after marrying we wanted to buy a house. In every application they required both names on all the papers. Most cases when I asked why they would say it was to protect the rights of both spouses. I think its more to protect there investment. Which I learned later was actually a good thing. In major investments its always wise to have both parties on all forms The only reason I can imagine one not wanting both names is if one name will hurt there chances of approval. Best advice I can tell you is contact your lawyer and ask them the what the law requires in your state. YES! We just got a home loan in my husbands name only. His credit score was better than mine and our lender said it would be better to only have him on the loan. Eventually we are going to have my name added to the title to the house and that will require an attorney. Good luck to you!
The two people can sign a quit claim deed and record it, effectively putting the deed in the third person's name only. HOWEVER, if there is still a mortgage on the property then the lender has to agree to this. If the couple co-signed for the home, this may not work until the third person can afford to refinance alone.
Yes there are... if the person that is on the mortgage dies in a car wreck or something then the spouse will have a difficult time claiming the house unless the house was put in a will to the other who isn't on the mortgage. The house could go in default of payment and the spouse not on the mortgage wouldn't necessarily know about it.
If the property was in both your names when your husband signed a mortgage then the bank acquired only his interest, not yours. If he died the bank could foreclose on his half interest only if the mortgage isn't paid. However, if the property was in your husband's name alone when he mortgaged the property and was later transferred to both your names, the bank could foreclose and take possession of the property if the mortgage isn't paid. Neither case would be affected by your husband's death. If he dies the property is still subject to the mortgage in either case.
Regardless of whose name is on the mortgage the property legally belongs to the person or persons named on the deed. The mortgage is only a financial obligation, the deed is a legal ownership document. Of course, if the mortgage is not paid the mortgagor can file a foreclosure action against the property.
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