My husband bought our house before we married. We have re-financed since then and the bank required my signature on the loan papers. I believe the deed and the tax records only have his name on them. Is this legally half my house? If my husband died - would the house be mine and/or am I responsible for the loan?
2006-06-15 13:29:05 · 7 answers · asked by 12elle12 1 in Business & Finance ➔ Personal Finance
It does depend on the state you live in. Best bet is to file wills and have your name put on the deed w/rights of survivorship. You can actually file these yourself in the county courthouse. Don't let a lawyer charge you too much for this. It's a very simple process.
And it's called "dower". Not all states have it. You co-signed on the second loan, and therefore are responsible for the loan, though not the home itself (you couldn't file your own mortgage - this also varies by state).
2006-06-15 13:34:22 · answer #1 · answered by rednecklady17 3 · 0⤊ 0⤋
I believe usually the mortgage company has a new deed made out when you refinance - so if you co-signed, your name ought to be on the deed. You can go to the county courthouse and research the deeds of ownership. Simply go there and ask for help - they will show you where to go and if you are lucky actually look up the info you need.
If you co-signed for the loan, yes you are responsible for paying it back, if your husband should pass away.
Whether you own part or all of the house in the event of the death of your husband, depends on whether your name is on the deed, and the inheritance laws in your state, as well as if there are any surviving children of his that are entitled to part of his estate. If you do not have a will, I would strongly recommend to find out what the your laws are like and then get one drawn up that will protect your interests in all fairness.
You ought to find answers to most of your questions in the county/city courthouse - get yourself a list of questions and then start asking. If that is not sufficient - ask if there is a free legal aid clinic in your area/city/county and if that is not getting you anywhere, make an appointment with an attorney. A minor brain picking session is not all that expensive, and may be well worth the money spend if it puts your concerns at rest and provides you with the protection you need.
Good luck to you! Sabine
2006-06-15 14:17:19 · answer #2 · answered by greenegardens 2 · 0⤊ 0⤋
I guess you were considered a Co-Signer
If he sells the house your out.
But if he defaults your obligated to pay and the house would be yours..
If he dies and has insurance the house is paid and you own the house,BUT you are obligated to pay all other lean expenses as married,and if there are no leans the house should be than yours free and clear,but as with anything else if there are leans you must pay the lean or the creditors may sell to recover..
If he dies and you still owe money with no insurance than you must pay the loan
Get a seperate life insurance if the loan has none
Be prepaired and get a good lawyer now so not to lose the house..
2006-06-15 13:44:44 · answer #3 · answered by Vulcan 1 5 · 0⤊ 0⤋
Depends on where you are, but in California, you would own half the house. In fact, the moment you got married and you paid a single mortgage payment with a joint account, you would have owned half the house. It becomes community property.
2006-06-15 14:07:42 · answer #4 · answered by weddingstuff 2 · 0⤊ 0⤋
the house is his, 1/2 the loan note is yours, screwed up didn't you!
2006-06-15 13:33:39 · answer #5 · answered by Pobept 6 · 0⤊ 0⤋
In most states , yes and yes.
2006-06-15 13:32:34 · answer #6 · answered by ☼Jims Brain☼ 6 · 0⤊ 0⤋
yes, it is called dowry rights.
2006-06-15 13:34:03 · answer #7 · answered by Kim K 2 · 0⤊ 0⤋