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Odd mortage question

If me and my husband are on a mortage together. He the owner I co- owner. And if I have enough money left to me through a will. Is there a way I can buy the home and have me be the only owner of the home? That way if we get divorced I own the home.

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Anonymous

Asked by Anonymous at 12:44 AM on Jan. 3, 2009 in Money & Work

Answers (8)
  • if you qualify in your own to carry the mortgage payment you can be the only owner if the property .
    however you have to see what is your State regulation .
    For example the State of Georgia is not a Community State , so if i owe a property and i am the sole owner my husband can take anything from it if something happen between us .
    What State do you live?
    you can go to my website www.camdenhomeloan.com
    i have done many loans were the spouse bough the husband out .
    In Florida so if you are married he owes the house as well even though he is not in the title of the house .
    Mirian448

    Answer by Mirian448 at 12:48 AM on Jan. 3, 2009

  • He has to agree to sell you his half--or give it to you. You can not just go in and have his name removed even though you have enough money to pay it off.
    Anonymous

    Answer by Anonymous at 1:02 AM on Jan. 3, 2009

  • We live in Pennsylvania. Mirian448
    Anonymous

    Answer by Anonymous at 1:09 AM on Jan. 3, 2009

  • If the two of you are on the deed, you can't just take it out from under him without his consent. If you get divorced, the house is part of the settlement.
    gdiamante

    Answer by gdiamante at 1:18 AM on Jan. 3, 2009

  • Is your marriage rocky? If not then why would you want to create a fight? If my DH came to me with the above and we were on good terms by that night we wouldn't be. Your forecasting a divorce how awful is that.

    As for the question. More then likely you lose 1/2 of whatever you own regardless of where it came from unless you have a prenup, live in a state that doesn't have these laws, married under 10 years (many states seem to be 10 years or more)

    good luck and while it is good to plan for the unexcepted don't go looking for it or you will find it alot quicker then you planned.
    Anonymous

    Answer by Anonymous at 6:34 AM on Jan. 3, 2009

  • You also need to check the terms of your lender.
    Ours will not allow us to pay it off early without penalties and if we do pay it off early the deed stays in both of our names unless we go and have it legally changed, but I have no clue how to go about that.
    PrydferthMenyw

    Answer by PrydferthMenyw at 8:22 AM on Jan. 3, 2009

  • Our mortgage is in my husband's name, and our deed is in both of our names. I think you can do it the other way, too. If you are going to file for divorce soon, you can use your settlement to buy out his half of the shared property.

    Ms.Melanie

    Answer by Ms.Melanie at 2:15 PM on Jan. 3, 2009

  • the mortgage doesn't make you the owner. It means nothing in ownership. The deed is where the ownership lies. He would have to deed the property to you, through the county court system, to make you owner. Then, you could pay off the mortgage with your money, but he would also get the good credit rating for an early loan payoff. A lawyer has to help you do this through your divorce.
    pattigioeli

    Answer by pattigioeli at 1:29 PM on Jan. 14, 2009

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