Without your spouse being on the deed or title, whatever they call it, in the state of California..
2007-03-22 14:08:04 · 7 answers · asked by NIKFAY 2 in Business & Finance ➔ Renting & Real Estate
Yes you can,even though California is a community property state. At the closing of the loan and when you sign your loan docs, the escrow closing agent will prepare a quitclaim deed for your spouse to sign. Your spous will have sign this quitclaim deed.
This will be a requirement of your mortgage lender also.
Now you have to qualify for the mortgage alone and can not use the spouse's income or credit to qualify for the loan.
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-03-22 14:32:56 · answer #1 · answered by Skip 6 · 1⤊ 0⤋
Yes. However, California is a community property state so upon the purchase of the home your spouse would have to sign an Interspousal Grant Deed. This doesn't necessarily relinquish your spouse's rights to the property, it would only clear title so that you can be on title by yourself. What reason would you not have your spouse on title? If it is because of credit issues that could otherwise hinder your ability to obtain a loan, then your spouse doesn't have to be on the loan, but they can be on title. If it is for "just in case" reasons, being California is a Community Property state, if you two should decide to get divorced, you (or your spouse) would be obligated to buyout the other person regardless of whether or not you are both on title.
2007-03-22 14:34:04 · answer #2 · answered by loan_wzrd 2 · 0⤊ 0⤋
Not an expert on California law, but in general any adult can contract for anything without a spouse's signature. The spouse may need to be notified about the transaction though. And as the other answerer said, it would still be a marital asset.
2007-03-22 14:22:02 · answer #3 · answered by finra 4 · 0⤊ 0⤋
Only person that answered this correctly was Skip!
Quitclaim will be needed at the time of Closing and your spouse will have to be present.
Happy Living!
2007-03-26 08:00:39 · answer #4 · answered by Openthathouse.com 4 · 0⤊ 0⤋
Yes absolutely. Purchase the house, get a good real estate lawyer and put it in a land trust, filing the land trust under something other than your name.
However, if you ever divorce, you may be required to list all assets owned. If she doesn't know the name of your land trust, she won't know who owns the property.
I don't personally endorse perjury in the case you are asked under oath.
2007-03-22 15:44:38 · answer #5 · answered by themligroup_com 2 · 0⤊ 0⤋
I think it's possible, but cali is a community property state and all assets aquired after marriage are joint :)
2007-03-22 14:11:20 · answer #6 · answered by lorraine 2 · 0⤊ 0⤋
YOU CAN BUT THEY'RE STILL HALF OWNERS.
2007-03-22 14:21:47 · answer #7 · answered by cork 7 · 0⤊ 0⤋