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Adding a titleholder with a judgement

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mzzrenee88

Junior Member
Hi, from SC. I am in the underwriting stage for a mortgage loan. My husband will not be on the mortgage but will be added to a title, however he has a judgement against him from a creditor for $900 from 2009, will this effect closing the loan?
 


STEPHAN

Senior Member
Don't add him to the title if he is not on the mortgage. This ends in chaos in 99.9% of all cases.
 
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HRZ

Senior Member
WHy add somebody to title unless you understand why you are doing so....and BTW SC probably recognizes 3 forms of titles ..TIC, JTWROS and TICWROS ...which form did you have in mind and why?
 

mzzrenee88

Junior Member
i know why i’m adding him to the title i just want to make sure that we can and his judgement doesn’t cause an issue. it will be an JTROS
 

HRZ

Senior Member
IT is unlikely you can just add a person to an existing title JTWROS ..there is no unity of time ...probably takes a another step. BTW in terms of being creditor resistant , others often point to TICWROS as superior choice .

ARe you adding him to title and recording same before or after you get new loan in just your name ...if you don't understand the signifiace of recording sequence then I'm not sure you understand why you are adding him to title .
I'm agreeing with Stephan you are looking for chaos ..and if his creditor finds out he is on title the creditor may have more fire in the belly to collect. ...but I doubt $900 is the real chaos exposure .
 

justalayman

Senior Member
i know why i’m adding him to the title i just want to make sure that we can and his judgement doesn’t cause an issue. it will be an JTROS
Putting a person in title without them being obligated to the mortgage loan is not the smartest thing to do generally . If life works out perfectly it doesn’t matter but if your relationship takes a nosedive you could end up owing the entire mortgage but relinquishing 1/2 of the home to your husband.

Also the judgment creditor could record a lien against the property. Whether they would or whether they could enforce the lien before the expiration of the judgment is something only a psychic can tell you.


Bottom line: ask your lender if it wil cause an issue.
 

adjusterjack

Senior Member
i know why i’m adding him to the title i just want to make sure that we can and his judgement doesn’t cause an issue. it will be an JTROS
His judgment could (probably will) become a lien on the property once he becomes an owner.

So, yes, it will most certainly cause an issue if you ever want to sell or refinance the property.

By the way, a $900 judgment from 2009 is probably a couple of thousand by now with accrued interest, court costs, and attorney fees.
 

justalayman

Senior Member
His judgment could (probably will) become a lien on the property once he becomes an owner.

So, yes, it will most certainly cause an issue if you ever want to sell or refinance the property.

By the way, a $900 judgment from 2009 is probably a couple of thousand by now with accrued interest, court costs, and attorney fees.
The sol for judgments in South Carolina is 10 years. From what I read it is absolute as the judgments are not renewable. Once the 10 year mark hits the judgment dies. That would be sometime next year.
 

HRZ

Senior Member
IF one was that close to a judgement timing out under SOL I sure as heck would not be adding that person to anything now ...once the door is closed, revisit the options.

SO far the OP has not given any good reasons to add Hubby ...but says she knows why she is doing it ....

THere may be sound reasons ..
 

HRZ

Senior Member
BTW! A creditor could force a partition action if the title was held JTWROS ...and nothing prevents a creditor from pushing that button if pushed in time

TItle changes are public records..and some of this stuff gets published and even read....we don't know the issues behind the judgement ...but it might be unwise to wave any red flags before the judgement tolled.

( A couple of times I have collected on my judgements just because A red flag came up and I was able to push a button to induce payment and in one case the title firm actually called me to ask )
 

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