Do all parties who own a home as Joint Tenants with Survivorship have to be named on the mortgage?

My husband and I are buying a house with my mom, who will live with us. We were advised to put in place Joint Tenancy with Survivorship. She put down a large portion of the down payment and we are mortgaging the rest. Does she have to be on the loan as well in order to maintain the Joint Tenancy status or can my husband and I mortgage it ourselves?

Asked on August 13, 2012 under Real Estate Law, Kentucky


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

No, she does not legally have to be on the mortgage but I am unsure that a bank will lend you the money unless she executes certain documents acknowedging the debt owe by you and maybe even subordinating her rights to theirs.  I would speak with an attorney in your area on this matter so that everything is done as you wish.  Good luck.

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