Adding DH to House Title/Deed/Mortgage

iamjoesgurl · September 2010

Prior to getting married I owned a home. I would like to add DH so that if something were to happen to me, he would not have legal issues. Does anyone know how this works? I have a mortgage on the home so would the mortgage company have to approve it? And does it matter what state I live in? TIA!

zippityb · September 2010

We are refinancing right now and adding his name on. You might want to consider that, especially since the rates are so low. I don't know how to do it otherwise.

akhensley81 · September 2010

I would call the bank that you have the mortgage through - they should be able to tell you what you need. They will likely need a copy of the marriage license on file.

Good luck!

Calypso1977 · September 2010

i beleive you have to refinance in order to put your H on the mortgage. the deed should just be a simple filing with the registry. some states require that the names on the mortgage match the names on the deed. i'm pretty sure that's the case here in MA. when changing the deed you also will need to decide whether you want to be joint tenants in entirety or (the other option i cant think of). one basically says if something happens to one of you, the other automatically gets the property. the other option says if something happens to one of you, the estate/heirs gets that persons half, not you, and i believe you have to go through probate. however, i would speak to a real estate attorney as state laws do differ, and this is just one hack's understanding....

Calypso1977 · September 2010

also, did you take his name? might as well update all of the records with that change at the same time.

laurenclaire1386 · September 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_adding-dh-house-titledeedmortgage?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:ff541080-7f3d-4ec1-aca8-2c79442ee6f7Post:85d50fbf-1b06-4fd7-aa94-cc5a9d33c59d">Re: Adding DH to House Title/Deed/Mortgage</a>:
[QUOTE]i beleive you have to refinance in order to put your H on the mortgage. the deed should just be a simple filing with the registry. some states require that the names on the mortgage match the names on the deed. i'm pretty sure that's the case here in MA. when changing the deed you also will need to decide whether you want to be joint tenants in entirety or (the other option i cant think of). one basically says if something happens to one of you, the other automatically gets the property. the other option says if something happens to one of you, the estate/heirs gets that persons half, not you, and i believe you have to go through probate. however, i would speak to a real estate attorney as state laws do differ, and this is just one hack's understanding....
Posted by Calypso1977[/QUOTE]
That would depend on inheritance laws in your state. I know in LA that if you chose the other option, although the heirs would be the naked owners, the spouse would have usufruct, which means that although your children would technically own the house, they coudln't do anything with it until the person with usufruct dies.

iamjoesgurl · September 2010

I took his name and my mortgage company changed my name on the account, but not on the mortgage (at least I think that was what they said). I thought about refinancing but it is expensive. I understand that you'll save money in the long run, but the up front costs are high IMO.

zippityb · September 2010

You can roll those costs into your loan. Also, you can keep your payments the same and put the savings towards principal. We're shaving off $200 a month by refinancing.

Calypso1977 · September 2010

youd be surprised. the amoutn we paid to refinance was equivalent to that months' mortgage payment. it didnt really cost us anything, when you look at it that way (yes, it cost X dollars, but the hit to our monthly budget was zero).

you should definiteily do it. the rates may go down a bit more, but IMO, tehy are the lowest they will probably get. also, you may be able to go from a 30 year fix to a 20 or 25 year fix and save even more. also, if you are paying PMI, this will get you to 20% equity faster so you can get out from under that. worth the expense, IMO.

squirrly · September 2010

You don't have to use your current lender to re-fi - shop around. We each had a house. We re-fi'd his, but are selling mine, so we've done nothing to add his name to the deed/mortgage on mine. However, Kentucky law is such that it doesn't matter what we do, he became half owner as soon as the marriage was complete - married women in Kentucky can't own property individually. Irks me to no end that the law doesn't go the other way - men can.

Check around.

JenGin74 · September 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_adding-dh-house-titledeedmortgage?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:ff541080-7f3d-4ec1-aca8-2c79442ee6f7Post:762aedbf-428e-480e-a757-a7cf0f17ddfc">Re: Adding DH to House Title/Deed/Mortgage</a>:
[QUOTE]You don't have to use your current lender to re-fi - shop around. We each had a house. We re-fi'd his, but are selling mine, so we've done nothing to add his name to the deed/mortgage on mine. However, Kentucky law is such that it doesn't matter what we do, he became half owner as soon as the marriage was complete - married women in Kentucky can't own property individually. Irks me to no end that the law doesn't go the other way - men can. Check around.
Posted by squirrly[/QUOTE]

Seriously? That just boggles my mind.

JenGin74 · September 2010

I'm not sure how I would react to that, or if I'd be able to bite my tongue (or remain calm). Thankfully, it sounds like you had a great real estate agent.

squirrly · September 2010

Yeah. That was 2 years before I even met H - I was totally single at the time.

hccpsu · September 2010

Refinancing doesn't have to be expensive--we just did it and the bank we used charged a total of $380. They didn't require lender's title insurance, though, so that saved some money. Shop around--right now a 30-year fixed mortgage is 4.5% or less, and a 15-year is 4% or less.

When I bought my first house when I was single, the loan documents, deed, etc., all listed my name, plus the words "an unmarried woman." I was annoyed about that at the time, but I noticed on our refinance, DH and I are listed as "a married couple."

redheadfsu · September 2010

Yep, you need to call your mortgage company. Most likely, you will need to refinance with them or someone else. Some mortgages have language that if you add someone to the deed w/o their approval you must immediately pay the rest owed on the mortgage as a penalty.

mkrupar · September 2010

I don't know about adding someone, but FI had to refinance to get his ex-wife removed from the mortgage. I would imagine it's the same way as adding someone. He ended up with the same monthly payments and everything, but it was a PITA because there was some paperwork that she had to sign and it took her forever to do it. I think it took him a total of 6 months to get it all squared away.

jessienjeremy · September 2010

Just be careful when you refinance! I have heard that people think they are getting a great deal and ends up they are adding years to their time which in the end wound up costing them more. My FI owned his house before we met. It will be paid off in 4 yrs so we are just leaving it as is.

TurtlesAllTheWayDown · September 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_etiquette_adding-dh-house-titledeedmortgage?plckFindPostKey=Cat:Wedding%20BoardsForum:9Discussion:ff541080-7f3d-4ec1-aca8-2c79442ee6f7Post:0035fb16-7ed5-4c4e-a06b-3f1263010217">Re: Adding DH to House Title/Deed/Mortgage</a>:
[QUOTE]In Response to Re: Adding DH to House Title/Deed/Mortgage : That would depend on inheritance laws in your state. I know in LA that if you chose the other option, although the heirs would be the naked owners, the spouse would have usufruct, which means that although your children would technically own the house, they coudln't do anything with it until the person with usufruct dies.
Posted by laurenclaire1386[/QUOTE]

This is how my mother has her house set up. Her husband gets to reside there until he dies, provided my mom dies first. But everything they have is, obviously, going to me and my brother. Since I have no use for my mom's house and like my stepdad, it works. :-)

parker624 · September 2010

its more important to change the deed than the mortgage documents. the deed is the legal paper that says who owns the property, and you'll want both your names on it in case something happens to you. I'd call your county's recorder's office to get more information.

jess9802 · September 2010

A couple of things. First, the laws of intestacy vary state to state. It is entirely possible that even without a will or your husband's name being on the deed that the house would ultimately pass to him on your death (assuming you don't have children). Second, the Garn-St. Germaine Act prohibits a bank from invoking the due on sale clause for a transfer to one's spouse. You shouldn't have to add him to the mortgage just to add him to the deed, and you can add him to the deed to the home without worrying about the loan being accelerated.

If your loan rates are good and there's no need to refinance, you probably should just execute a deed transferring the property from your sole name to you and your spouse jointly with some form of survivorship. The form of ownership for spouses varies state to state. It's something a real property lawyer should be able to help you with for a relatively low cost, and you'll know the deed is prepared correctly.

iamjoesgurl · September 2010

Thanks Jess.

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