Why do Deeds need to state marital status?

Question

In Florida, a deed needs to state the marital status of the people involved (i.e., Deed made between Joe Schome, a single man, grantor, and Jane Doe, a married woman, grantee). Why is this necessary?

Answer 1

When it comes to real estate, and other personal property, when a person buys it while married, it is owned by both people in a couple. In case of divorce, unless otherwise agreed, both parties get half of what is owned. So in the example you gave, if Jane Doe gets divorced, she has to pay her husband half of the value, or he pays her, so that only one has possession.

Answer 2

Some states are known as "community property" states. This means that in a marriage, each partner owns 50% of the assets unless there is a contract to the contrary. In real estate contracts, some state laws require the marital status to be clearly stated on the property contract even if it will not be recorded on the title that way. The reason is due to the community property laws of the state.

Answer 3

One of the main reasons that a deed must show marital status is because of the type of ownership of the property. If a husband and wife own the property then, when one of them dies, 100% of the property ownership goes to the surviving spouse. This is called "tenancy by the entirety".

When two unmarried people own property they own it as "tenants in common". If one of them dies then their share of the property ownership goes into their estate and is inherited by their heirs, rather than going to the other owner of the property.

Two unmarried people have the choice of owning the property as "joint tenants with right of survivorship". In that case the property is treated the same way as a tenancy by the entirety and when one owner dies the surviving owner gets 100% ownership. If they want to own the property this way then the deed must say Joe Schmoe, unmarried, and Jane Doe, unmarried, as joint tenant with right of survivorship (or JTWROS).

There are other issues requiring marital status on the deed such as dower rights but that is usually superseded by state law now.

Answer 4

You can still get a loan on a house all by yourself even if you are married but selling it by yourself is a little tougher. You can do it alright (especially if you took title to it as a single person and then got married later) but it "could" cloud the title since the wife could raise a stink about it later if you had a problem (like divorce). A title company won't issue title insurance if they know that a spouse exists and has not signed.(they always ASK if you are married but they don't make you prove it)

Answer 5

that is federal all over. Because when a man decided to leave his wife he either borrowed heavily on the house and bought a truck or van and took off. Some cases they sold the house and took the money and ran. The only way the women knew was when it closed escrow and she was asked to leave.
So now to get a loan on a house or sell it that takes two signatures and it is not a dun deal if both parties do not sign.
If a person is single than it only requires one signature to get a home equity loan or to sell it.

Answer 6

Because it shows who is responsible for any mortgage, real estate taxes and shows complete ownership of the property.

In a state that gives 50% of the assets to the spouse, this shows to whom the assets really belong.

GOD bless us always.

Answer 7

It takes twelve seconds for Yahoo Answers question to load for me to be able to click on [add your answer] box. thus, is my laptop slow??