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Can a mortgage be acquired in a community property state with only one spouse name on the deed.?
Sagea2008
Yes, but there are implications when doing so. If the property was acquired after the marriage both parties will be owners, even if only one party holds the mortgage.
There may be issues of ownership if a loan is taken out using both names for property held before the marriage. It is possible that the land may be considered mutually owned because both parties were required to hold ownership.
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∙ 15y ago
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If you are unemployed and being sued can they come after your spouse in any way?
Yes, they can. You and your spouse are legally a single financial entity. Any property acquired by your spouse after your marriage is community property, with you having an equal interest. The only property not considered community property would be what your spouse owned prior to your marriage.
What is the cost to add a spouse to your mortgage?
A spouse is not added to a mortgage; if the spouse already owns an interest in the property through deed or community property, then the spouse is subject to the mortgage, regardless of whether or not he or she signed it. Note, however, that many mortgages contain "due on sale" clauses which require the mortgage to be refinanced if there is a change in ownership of the property. Contact your bank to see if your loan contains such a clause.
What does separate property state mean?
Briefly it means that legally married people can own property in their own, sole capacity, even when acquired after marriage. Their spouse is not automatically given any interest in that property as they would be in a community property state.Briefly it means that legally married people can own property in their own, sole capacity, even when acquired after marriage. Their spouse is not automatically given any interest in that property as they would be in a community property state.Briefly it means that legally married people can own property in their own, sole capacity, even when acquired after marriage. Their spouse is not automatically given any interest in that property as they would be in a community property state.Briefly it means that legally married people can own property in their own, sole capacity, even when acquired after marriage. Their spouse is not automatically given any interest in that property as they would be in a community property state.
Does a spouse have to sign the mortgage in a non community state?
Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.Yes, if the spouse has an ownership interest in the property.
Can you refinance a mortgage in California with only one owner on the new mortgage if it is a legal same-sex marriage so both would now be legally owners?
The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.
In a community state is it possible to have only one spouse on a mortgage and have a relative be on Title if you are not legally separated yet and are expecting to divorce your illegal alien spouse?
No. Property acquired during the marriage cannot be partitioned, sold, transferred or otherwise without the consent of both spouse's to the action or the approval of the court.
If one of the married partners acquires real estate by deed does that give the other spouse legal rights to that property?
It depends on the state that the property is in. In a separate property state the spouse would not acquire an interest. In a community property state if the property is acquired by deed during the marriage it becomes community property.
In Virginia can a spouse whos name is on the deed and mortgage sell their house without the other spouse consent whos name is not on either one?
California is a community property state. Your husband may need your signature to sell his property if it was not titled as "separate property". Property acquired after marriage may become community property depending on the source. If the property was inherited then you may have no claim. However, if the property was purchased then the following passage may apply: "In California, any assets that are acquired during marriage become community property, (i.e., belonging to both spouses), unless they are specifically acquired as separate property. Real property that is conveyed to a married man or woman is considered community property, unless it is stated otherwise. In order for a married individual to acquire title in his or her name only, the spouse must relinquish all right, title and interest to the property. Usually, this is done by executing a Quitclaim Deed to the property, which is recorded concurrently with the deed to the property." You should seek the advice of an attorney.
What is considered community property?
Generally, anything that a married couple accumulates during the marriage is considered community property, that is, both spouses own an undivided share of the whole. Community property courts start with a strong presumption that anything acquired during marriage is a community item, the spouse claiming a particular item is not community property has the burden of proving otherwise. The main areas of separate property are those items acquired before marriage, items received as a gift through a will or by inheritance, and those properties purchased with separate property funds.
In Florida if your parents are refinancing would your spouse need to sign the mortgage?
Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.Not unless your spouse is on the title to the property. If not and your spouse signs, then your spouse will be fully responsible for paying the mortgage.
In a community property state is property inherited after marriage considered community property?
Property acquired prior to marriage is separate property and remains separate unless the spouse is granted on title and contributes to the mortgage payments from community funds, then they acquire an interest in that separate property in proportion to their contributions. Paying insurance taxes, utilities is not considered a basis to make the property community.
Can a mortgage loan be required to be refinanced upon the death of the borrower in a community property state where there is a non-contributing spouse on the deed of trust?
Certainly.
