Can you be on house title but not loan?

It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. If a mortgage exists, it’s best to work with the lender to make sure everyone on the title is protected.

What does it mean to have your name on a house title?

What does it mean to have your name on the deed of a house? Deed is Evidence of Title It means an ownership interest. If you hold title, it simply means you own an interest in a property. If you have a deed to a house, it means that a transfer of interest in the property occurred on a particular date.

Do you have to pay bills if your name is not on them?

He said: ‘If your name is not on the bills then there is no obligation for you to pay a share of them, unless you have previously agreed to do so. In a shared house it is therefore important to have a clear agreement about how bills are going to be paid.’

What happens if the House is not in my name?

If there is not much equity in the house and you are looking after the children, then it might be possible for you to remain there for a specified period of time. By comparison if the house is the only asset and there is a significant amount of equity in the property it may be more difficult to be able to justify a need to remain there.

What happens if my name is not on the accounts?

If my name is not on the accounts am I still liable to pay? Tara Evans, from This is Money, replies: In simple terms, you are not liable to pay the bills. It does seem like you tried to do the right thing here and perhaps feel you would be happy to hand over some money to cover bills for the month or so that you have have been living in the house.

Why are my names not on the mortgage?

I didn’t have children with him (more good luck) and when we split I left his mortgage without a stain on credit reference either. As for any entitlement – I wasn’t on the deeds either and there was certainly no money to be had (only debt, didn’t want to split those!) but …

What happens if your house is not in Your Name?

Property inherited or gifted to one spouse also remains separate property. If your name is not on your home’s title for these reasons, you would not own the home; neither would you be held responsible for loan repayment or any other lien placed on the property, even if it resulted in foreclosure.

What can I do if my name is not on the mortgage?

If you are an unmarried partner whose name is not on the mortgage then your rights will be very limited. Some of the things to consider if you are not on the mortgage and are concerned bout your rights: Get a declaration of trust stating what interest you have in the property.

What happens if your spouse buys a house in Your Name?

The lender requires that both owners’ names go on the title when they used both of their financial qualifications to acquire the loan. If your spouse purchased a home with a loan in her name only, the home is considered community property unless you relinquish your rights to the property.

What does it mean if someone is not paying rent on Your House?

If it were a rental owned by someone else, it would be the landlord’s house. “ Living ” suggests a permanent arrangement (as does your statement that he/she is not paying rent). “ Not paying rent. ” We’ve established that you own the house. The rent would be paid to you.