Legal Question in Real Estate Law in California
Loan in both names, title in one name
My husband and I are thinking about buying a house.
However, my in-law's are against our idea and I don't want to cause problem for my husband.
So, I wonder if it's possible to get morgage in both of our names and do house title only with my name so that my in-laws can't get involved. I wonder if it's possible as long as my husband agrees to do so.
Thank you.
3 Answers from Attorneys
How old is your husband? 17?
Tell your in-laws to get stuffed. If your husband won't stand up to them, you have larger problems than how to buy a house.
If you can qualify for the loan on your income alone, you MIGHT find a bank that would do it, since your husband being on the loan would just be like a co-signer. Generally, however, banks will not make secured real estate loans to more than one person if they are not all on title to the property that is the security for the debt.
You would also be creating a mire of community property issues should you ever divorce.
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