my husband own a home before we got married, my name is not on the deed of the house.he called the mortgage company to put my name on the house but was told that the only way is to refinance the house which i dont want to do right now.my only concern is that if something happens to him,do i have a right to the house since we are both paying for the mortgage now from our salaries.i need advise on what to do?
1 Answer from Attorneys
Re: house deed
Being on the title and being obligated on the mortgage are two very different things. Being obligated on the mortgage only means that you are a cosignor on the debt. It does not mean you have any ownership interest. Being listed on the title means you have an ownership interest but nont necessarily an obligation to the mortgage creditor.
In a divorce situation, who is listed omn the title or mortgage has little bearing on whether the parties have an interest in the equity of the real estate. If equity accrued during the marriage by paying down the mortghage or improvements, that value would be considered marital and divisible in divorce regardless of whose names was on the title or mortgage.
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