Posted on: 21st Jul, 2005 10:50 am
When a borrower is married but is the only one on mortgage, deed, and title, does the wife have to sign the mortgage and TIL or can she waive rights
Hi Sraah,
Welcome to MortgageFit forum.
It is not mandatory that the wife of a borrower has to sign the mortgage or deed which has been taken earlier. She can waive rights if she wants to, but to do so she will have to be a co-owner of the property.
In case the wife becomes a co-owner, she will have equal liability as her husband to pay off the mortgage. Otherwise if the husband is the only owner of the property,then only he will be obligated to pay off the mortgage.
Hope this information will help to clear your doubt.
Please write back to us with further queries. Also sign upwith us to get free advice on any of your queries.
Regards,
Sam
Welcome to MortgageFit forum.
It is not mandatory that the wife of a borrower has to sign the mortgage or deed which has been taken earlier. She can waive rights if she wants to, but to do so she will have to be a co-owner of the property.
In case the wife becomes a co-owner, she will have equal liability as her husband to pay off the mortgage. Otherwise if the husband is the only owner of the property,then only he will be obligated to pay off the mortgage.
Hope this information will help to clear your doubt.
Please write back to us with further queries. Also sign upwith us to get free advice on any of your queries.
Regards,
Sam
I am buying a house. I am on my way out from my marriage. But not yet divorced or seoerated. IHow can I keep my husband out of the house I am buying with my money. Do I need him to sign aspousal waiver?
Hi Purnima,
If you are residing in a community property state, then you can ask your husband to sign an inter-spousal transfer deed and release all claims over the property that you would be purchasing with your money. This would make you the sole owner of the property.
Thanks,
Jerry
If you are residing in a community property state, then you can ask your husband to sign an inter-spousal transfer deed and release all claims over the property that you would be purchasing with your money. This would make you the sole owner of the property.
Thanks,
Jerry