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Why would a married couple have both names on the mortgage but only the wife's name on the title?
Wiki User
∙ 2017-04-18 14:29:04
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.
Wiki User
∙ 2017-04-18 14:29:04
Wiki User
∙ 2017-04-18 14:34:06There 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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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..
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.
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.
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.
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.
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.
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.
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.
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".
What is work share mortgage?
A work share mortgage is when more than one title company prepares the title.
What is a mortgage loan?
house documents are mortgage and title deed at register office
