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Additionally, this ensures that in the case of a divorce, the wife has undisputed rights to keep the property. Also, in the case of the husband having a high profile job (where he might get sued) the wife's property is more difficult to take away if he loses a suit.

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โˆ™ 2017-04-18 14:29:04
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โˆ™ 2017-04-18 14:34:06

There may be several reasons why the the property is in the wife's name. However, the bank had the husband execute the mortgage in case of any default. By having the husband sign the mortgage he is responsible for paying the note and a foreclosure would wipe out any interests he may have in the property.

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Q: Why would a married couple have both names on the mortgage but only the wife's name on the title?
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If you are married must a mortgage use both partners' credit or can it be in only one person's name?

My wife and l bought a condo and it is in both our names but the loan is only in my name We just bought a house but the mortgage loan is only on my name. The title and deed is is both our names.


Can you change the names on a mortgage loan?

Not without refinancing the existing loan and changing the names on the title to the property..


Can you get a mortgage commitment before a title search?

Generally, the title examination isn't ordered until there has been mortgage commitment. The reason is that people (buyers) don't want to pay for a title examination if the mortgage isn't approved. However, some lenders give a preliminary commitment that depends on the title being free of defects. In that case they want the title report a couple of weeks before the closing is scheduled.


Does a co-signer on a mtg get any rights to the property if the main borrower dies?

That depends on whose names are on the deed and how they hold title. If you are not on the deed and agreed to pay the mortgage you don't acquire any property rights.That depends on whose names are on the deed and how they hold title. If you are not on the deed and agreed to pay the mortgage you don't acquire any property rights.That depends on whose names are on the deed and how they hold title. If you are not on the deed and agreed to pay the mortgage you don't acquire any property rights.That depends on whose names are on the deed and how they hold title. If you are not on the deed and agreed to pay the mortgage you don't acquire any property rights.


If you are married and refinance a primary residence in Florida does your wife have to go on the mortgage?

Yes. Your wife will have to sign the Mortgage. She will be on the Deed, the Title and the Mortgage. You however, if you are the only one that is borrowering the funds, will be the only on the Promissary Note.


How do you address a postcard for married couple with a Jr or Sr title?

* The proper title to address a married couple who is a Jr., or Sr. is: Mr. & Mrs. John Doe, Sr., or Mr. & Mrs., John Doe, Jr.


Is it better to title a car in both names or in one for married couples if the loan is in both names?

It dekpends upon the laws of the state in which the married couple reside. In community property states all property acquired during marriage is considered jointly owned regardless of whether both or only one spouse's name is on the title or deed. If both spouse's are on the lending agreement it would be prudent for both to be listed on the title preferably with their names separated by "and" rather than "or".


Who owns a joint car when one person on title?

A married couple in most states.


If your daughter gets a mortgage and puts my nmae on the title with hers can the mortgage company ask for balance in full because she changed the title?

If the mortgage was not taken out in both of your names, and your name was added after the mortgage closed and funded, yes, the lender may have cause to accelerate the loan and ask it to be paid off. The lender and the title agency asks for full disclosure as to who has interest into the property at the time the property is sold or taken a mortgage against. If your name was on the mortgage, and you signed the mortgage (perfected title) and the lender approved a new deed adding you to be simultaneously recorded with the mortgage, you are fine. If you are added after the fact, the terms of the loan may be subject to default.


What is work share mortgage?

A work share mortgage is when more than one title company prepares the title.


Should your parents have you on the title of their house to avoid forced sale?

If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.


What is a purchase money first mortgage?

A purchase money or first mortgage is the mortgage granted in order to purchase the property. It usually indicates that the title was examined, a certification of title was issued by an attorney and a title insurance policy was written.


How long a Preliminary title report good from the time of mortgage application?

The title report should be dated as to the date the examination covers. When the mortgage is recorded the title report will need to be updated up until the recording of the mortgage.


What is a mortgage loan?

house documents are mortgage and title deed at register office


When refinancing a home does the new mortgage have to be in both names of owners?

That is the decision of the lending institution, but it would be very unusual for a lender to not insist on all title holders being a party of the refinancing. Complications can arise when there is a difference in the persons who are named on the property deed and those on the mortgage, most lenders will require all those on the title bear the responsibility of any financial issues in some manner. The way it is handled would likely depend upon the relationship of the parties involved, such as being married, an adult child of the mortgage holder(s), and/or how the title of the property is held.


What is the normal protocol in regards to the names on the title when a homeowner refinances?

Refinancing is simply obtaining a new loan, and should not change the names on the title. If someone is trying to take your name off the title during refinancing, they are trying to cheat you out of your share in the home. Refinancing has no effect on the title of a real property. The changing of title to real property is controlled by the laws of the state in which the property is located. It is extremely important to discuss the way property is to be held before the title is issued to avoid future legal complications. Tenancy-in-Common, Joint Tenancy, Joint Tenancy With Rights of Survivorship or Tenancy-By-The-Entirety (for married couples only). Refinancing can be used to change the names on both the mortgage and the title. That said, there are scams out there where the person who originally owned the house is told they can't be on the mortgage loan and so can't be on the title. THAT IS NOT SO. Look for another lender and question the morality of the person who wants to do this "for" you. In the case of a divorce or other split, one person can sign a quitclaim and a warranty deed and then the names on the title can be changed. == ==


Are you obligated for the mortgage if your name is on the title?

You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.


Who can you transfer your home title to?

With a quit claim and the agreement of your mortgage company, you can transfer your home title to anyone. However, if you are carrying the mortgage, there needs to be lien on the title until the loan is paid in full.


Can you drop a spouse from a mortgage without their signature by refinancing?

You can refinance without the spouse but you will need their consent to do so. If the spouse is on the title of the home, the answer is "no". If the spouse is on the existing mortgage the answer is "no". If the spouse is not on title you need to indicate on the loan application that you are married, and if you don't is fraud. At the time of closing she/he would have to be present. Inform you spouse of your actions.


How do you get spouse on Mortgage title?

you just get it for no reason


Can a person be on the title of a house and not on the mortgage?

Yes.


Who owns the house with mortgage and deed in different names?

The legal owner is the name(s) on the deed. The names on the mortage note are the ones responsible for the loan. However, sometimes the owner/mortgagor complicates the title to the property by selling it after they have granted a mortgage to a bank. In that case, the bank has a senior interest in the property. The grantee on the deed owns the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property by foreclosure.


Are mortgage companys the fee simple titleholder?

No. A mortgage company holds a conditional title to the property that varies according to state laws. To put it simply, the mortgage company only holds title until the mortgage is paid, and as long as the mortgage payments are up to date the mortgage company cannot take possession of the property, sell it or leave it to its heirs (in the case of an individual mortgagee).The fee simple title holder is the person who acquired the property by deed or by inheritance from a probated estate.No. A mortgage company holds a conditional title to the property that varies according to state laws. To put it simply, the mortgage company only holds title until the mortgage is paid, and as long as the mortgage payments are up to date the mortgage company cannot take possession of the property, sell it or leave it to its heirs (in the case of an individual mortgagee).The fee simple title holder is the person who acquired the property by deed or by inheritance from a probated estate.No. A mortgage company holds a conditional title to the property that varies according to state laws. To put it simply, the mortgage company only holds title until the mortgage is paid, and as long as the mortgage payments are up to date the mortgage company cannot take possession of the property, sell it or leave it to its heirs (in the case of an individual mortgagee).The fee simple title holder is the person who acquired the property by deed or by inheritance from a probated estate.No. A mortgage company holds a conditional title to the property that varies according to state laws. To put it simply, the mortgage company only holds title until the mortgage is paid, and as long as the mortgage payments are up to date the mortgage company cannot take possession of the property, sell it or leave it to its heirs (in the case of an individual mortgagee).The fee simple title holder is the person who acquired the property by deed or by inheritance from a probated estate.


What does it mean to be a title theory state in Michigan?

In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.


Is North Carolina a title theory state?

Title theory, the bank will hold the title to property as long as their is a mortgage