When should I be added to deed?

[swanya]

What is the name of your state (only U.S. law)? Mississippi - I am engaged to be married in November 2012. My fiance' is in Afghanistan on contract until spring 2012. Currently I am renting in SC. We will be relocating to MS and purchasing a home since he is making a decent salary overseas. However, since I have not yet found employment in MS, he is taking out a VA loan in his name and I will not be on the mortgage. He will be closing in the next 5 weeks and I am his POA. Is it beneficial for my name to be on the deed? If so, at what point? Should I make the request at closing? Should I wait until after we get married? If something were to happen to him while he is overseas and I am living in the home, but I am not on the deed and we are not married do I have any rights? He has 2 children; 1 is from a previous marriage (ages 19 and 14). Should we take out a term life insurance on each other so I can pay off his mortgage if something were to happen to him? If so, when should we do this?What is the name of your state (only U.S. law)?

 

[startedone]

It helps you to be on the deed. Loan & deed issues are distinctly different animals.

 

[ecmst12]

If he were posting asking if he should add your name to the title of a home that only he will be responsible for paying for, the answer would be HELL NO.

Get married first. Then you can both be on the VA loan AND both on the deed AND have the protections of marriage. And it's cheaper than life insurance.

 

[startedone]

If he were posting asking if he should add your name to the title of a home that only he will be responsible for paying for, the answer would be HELL NO.

Why would that be bad for the OP??? I say, get on the deed !!!

 

[nextwife]

Why would that be bad for the OP??? I say, get on the deed !!!

I would counsel my child to NOT add a new spouse who has neither contributed a down payment nor bears any debt liability for the mortgage. The new spouses interests can be protected by a combo of a will and life insurance in the event of death. If the marriage goes long term, one can always add the spouse down the road. What if the marriage ends up being a Kardashian? Placing a very new spouse on title would be a disaster.

BTW: A spouse can themslevs buy life insurance on their spouse and look out for their own interests (I did). There is no legal benefit to the party who is solely obligated for the mortgage rushing to place her on title.

 

[startedone]

\ There is no legal benefit to the party who is solely obligated for the mortgage rushing to place her on title.

But there is for the non-mortgaged spouse/person to get her name on the deed, correct?

It is the non-mortgaged person who posted; so I say go ahead and try.

 

[nextwife]

But there is for the non-mortgaged spouse/person to get her name on the deed, correct?

It is the non-mortgaged person who posted; so I say go ahead and try.

Fine, one can "try" to get their name on any deed they want, but that does not mean the other party is wise, or is OBLIGATED to do so. Am I better off if you put my name on YOUR deed? Or YOUR credit cards and bank accounts? Heck yes, but that does not make it LEGALLY advisable, nor can I compell you to do so.

This poster has ZERO actual control over this matter. You are giving advice about what a third party should do to benefit the poster, not about what the poster should do.

As stated, if they really wish to be on the deed, they should get married and get on the MORTGAGE and the liability as well. This poster is asking for the benefit with no legal responsibility for the obligation.
And anyone with any LEGAL background should point out why they should not EXPECT this of the obliged party.