- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (5)
- L Kay, "Just Biz"
- Contributions:7
L Kay (original poster): i understand this venue does not offer sound legal advice, however thought some realtors/brokers, etc..may have dealt with the scenario and could offer constructive feedback. I'll be a little more specific. If I have $30K to put into a new home with my new husband and "God Forbid" something happens where things don't work out, would I have more legal standing being "on the mortgage", or would I have just as many rights "being on the deed". Understand that I hope my marriage lasts til the end of time. However I need to be smart ..just in case things don't. It's called reality. In FL the law states "equitable distribution" of assets...however are there more loopholes with being on the deed only? It seems that being on the mortgage provides you more grounding and rightful ownership (however I also understand that I would be responsible for the mortgage if he decided to jump ship and disappear so perhaps there are pros and cons with each....)
- Lynda Mckenzie, "Lynda Mckenzie"
- Contributions:161
Marcelo is right. In the case of a divorce it is best to seek the advice of an attorney. The home may be considered martial assets and you may be entitled to some rights to the home.
For some reason your whole posting did not show just the title at the time of my previous posting.
For some reason your whole posting did not show just the title at the time of my previous posting.
- Marcelo Hernandez, "pacific mortgage srv"
- Contributions:180
the home in your case is a marital asset, both husband and wife have undivided interest. the fact that one spouse is the only mortgagor is irrelevant. if you're considering a divorce you need to seek legal advice from a competent attorney.
- Naoma Doriguzzi, "Naoma Doriguzzi"
- Contributions:41
If you are on the deed that means you own the property - just not responsible for the mortgage.
- Lynda Mckenzie, "Lynda Mckenzie"
- Contributions:161
If you are on the mortgage you will be responsible for the repayment of the loan. If you are only on title, you have ownership rights.
Deed versus being on the mortgage
-
- 0.0/5.0
Contributions:7Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.