Legal Question in Real Estate Law in Alabama

Names on mortgage and deed
My Partner and I are buying a home. The financial responsibilty is in my name only, but both are names will be on the mortgage and deed. I have been told that there is a world of difference between using the word ''or'' or ''and'' between our names. How should our names be written on both the mortgage and the deed so that, in the event of death, the survivor will maintain full ownership of the house? We have Wills which state that any joint property will go to the survivor, but I know Wills are constantly disputed. Should I die I don't want my family coming in and attempting to force my partner from our home. I have also heard the terms ''joint tenants'' and ''tenants in common''. What is the difference and should we have one of these terms in our mortgage and/or deed?

Asked on 5/31/04, 11:44 pm

David Slater David P. Slater, Esq.

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Re: Names on mortgage and deed

1. If both names are on the mortgage note, then both are responsible to the lender.

2. Ownership by joint tenants with right of survivorship means just that. The survivor owns it all.

Answered on 5/31/04, 11:53 pm

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