I'm living with my boyfriend in his own house. Can we put my name on the house also. .?

Question

What is the procedure? Is it worth it money-wise?

We hae been liing toghether for more than a year. We do plan on getting married. I hae been paying rentbut want to contribute more.

there's no hidden agenda..He's asked me if I would like to do this..

Answer 1

Why would he do that?

Answer 2

He can put you on the deed as 1/2 owner, my father did that when he and my mother divorced, she quit claimed and I signed on to the deed. A Real Estate attorney can do it for a couple of hundred dollars. Don't know why your b/f would put you on there before you got married, no offense but it's a huge mistake on his part. When i was living with my b/f of 4 years he moved into the condo I owned jointly with my father, my b/f asked to be put on the deed because he wanted to feel like it was his place too and he wasn't just a renter, my father refused to do that because if he and I broke up my b/f could force me to sell to pay him off or demand I pay him for his half of the condo. Needless to say I didn't do it and a year later we broke up, and we'd talked about getting married and having kids etc, it's amazing how quickly things can change in a year.

Once you're married you get 1/2 anyway so why go thru the hassle. In NC it doesn't matter who owns prior to marriage it's a community state so the spouse would get 1/2 even though their name isn't on the mortgage, unless a prenup was signed.

Answer 3

The correct answer is..... It depends on the laws of the State you reside in, as well as the mortgage agreement your boyfriend signed when purchasing the property. Some mtg companies will claim that if the interest in the property is sold, then he may owe a prepayment penalty - or call the loan due, thereby forcing a refi.

What it costs to add your name to the deed depends on where you live.

Consult with a local real estate attorney.

Last but not least - I am curious as to why he would want to deed any of his ownership rights to you too ;-) This is nuts to do as below stated, IF the relationship turns sour, and you don't get married, YOU have to agree to sell the house if you are on the deed (which also means you can get half of the money).

Great deal for you - rotten deal for him, but he isn't the one asking the question now is he?

Answer 4

Too bad it's not your boyfriend asking this question instead of you. I would strongly advise him to NOT do what you are contemplating. As a real estate agent, I cannot tell you how often I encounter situations similar to yours, and the house is now being sold because 'the perfect relationship' has soured.

As far as a monetary advantage to either of you, there is none for either, except for you, if your relationship ends. You will own an equal share of HIS house, with none of the mortgage obligations.

Adding your name to the title does not give you the ability to use half of the mortgage interest as a tax deduction. To do that, you would have to refinance in both your names. You would be entitled only to half the property tax deduction on the property, and he would lose that half for HIS deduction.

Don't do it until you are married. There's plenty of time to do this after the wedding.

Answer 5

It is easy to add your name to the title, call a title company on Monday morning and ask how you can do this.

However, while everyone is happy and in love, obtain a legally binding agreement about what happens to the property if: you get married, you break up or something happens to one of you (i.e. death). This will save you thousands of dollars in legal fees down the road.

It is not worth it to him money-wise unless you someone become obligated to contribute to the household.

Answer 6

It sounds like the boyfriend isn't thinking with the head on his shoulders . . .

I would NEVER put a girlfriend/boyfriend on property that I own.

When you break up, they own 1/2 and there is NOTHING you can do unless you buy them out.

THE SAME GOES for parents that want to do "estate planning" by adding the kids name to the property. When the parent wants to sell or refin or anything with the property, the kids have to ok it. YOu are only giving control away.

Answer 7

Why would he put your name on the house when you are not legally obligated to pay the mortgage? That would be the same legal operation as giving away 50% of the property interest...for which you hold no obligation to pay, but would have alot of control over.

Sure, it can be done, would cost you about $25.00 for filing, but he'll only do it if he's an idiot.

Answer 8

You don't say how old you 2 are.. how long you have been living with him.. if there is any kids involved. There is a lot to go through and unless you plan to marry this guy in the near future I would wait and see if this relationship was permanent.

Answer 9

Well you can .. Would he want to do that though? There are legalities involved, Change of title, the Land Registry titles have to be changed Will cost something like £400 for a solicitor to do this for you... Might as well get married,, You are entitled to 50% of everything then.

Answer 10

If I was your boyfriend I woudn't put your name in the mortgage, if he wants to loose half. The procedure is bank then solicitor

Answer 11

GET MARRIED. THAT WAY YOU HAVE CERTAIN RIGHTS THAT SHACKING UP JUST DOSE NOT HAVE.
just to have your name on something is not worth the money.
refinance the house in both names is a option