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Property Deed Question

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Property Deed Question

Old 07-15-14, 12:24 PM
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Property Deed Question

Hi,
I bought my house in 2006 when I was single, got married last October and my wife wants to add her name to the deed. I'm the only one on the mortgage.

However, the house has lost quite a bit of value from when I purchased it and especially in light of my recent layoff, I want to ensure that if we end up ever doing a short sale,deed in lieu etc, that it's only my credit that takes the hit.

Can this be accomplished without having to have her added to the mortgage? I'm guessing this is something I'd probably be better off asking a lawyer about but figured I'd try here first ha.
Old 07-15-14, 12:26 PM
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Re: Property Deed Question

Why does she want her name on the deed? Did she help pay for the mortgage at all during that time?
Old 07-15-14, 12:43 PM
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Re: Property Deed Question

You can do a non monetary deed transferring the property from you to both of you. She doesn't have to be on the mortgage.

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