What are a spouse’s rights to ownership of propertyif the other spouse purchased it before marriage?

Get Legal Help Today

 Secured with SHA-256 Encryption

What are a spouse’s rights to ownership of propertyif the other spouse purchased it before marriage?

My boyfriend has put a down payment on a house and it is being built. He will be closing on it in about 2 months. My plan is to relocate to and reside with him in the home. He has applied for the mortgage under his name alone. If I am not on the mortgage, can I be on the deed as a co-owner? Would this require me to sign paperwork? Would this affect my taxes? Both before and after we are married, if one of us dies and we are both on the deed, does the property automatically go to the surviving partner?

Asked on April 10, 2011 under Real Estate Law, Texas

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Your issue is quite common and unfortunately is wrought with issues. First, if the mortgage loan is in his name alone, then he alone is responsible for the loan, though sometimes mortgage companies are getting hip to some things that occur after the loan is closed. For example, if he winds up quit claiming the property so you both become joint owners with rights of survivorship, then it may wind up accelerating the loan so it becomes due immediately. You may be able to refinance the property so then the new loan is in both of your names. When you get married, then the property is still listed as joint tenants with rights of survivorship and then of course, if in case of divorce you are assured the property will be split between the two of you.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption