Posted on: 01st May, 2007 08:28 pm
I will be moving in with my sister to the house that she owns. I will be helping to pay the mortgage and all. Can I be added to the Title so we own the house together? Thanks! Rosie
yes you can be quick claimed on too title......for the purpose of future equity split it might not be a bda idea to get an appraisal done so you have current value. Document your payment contribution so if down the road something happens you will be in a position to keep you portion of the equity gain.
Wow! it's good to see kalvesmaki again.
Yes, Rosie can be added to the title but Rosie, have you thought of disclosing the fact to the lender that you will be helping your sister with the payments? In case, you disclose it to the lender, he may insist on having your name on the loan, though it is not the rule. And, the lender may also want to verify your credit worthiness and affordability.
Take Care
Yes, Rosie can be added to the title but Rosie, have you thought of disclosing the fact to the lender that you will be helping your sister with the payments? In case, you disclose it to the lender, he may insist on having your name on the loan, though it is not the rule. And, the lender may also want to verify your credit worthiness and affordability.
Take Care
Hi ckalvesmaki,
I agree with your suggestion on this issue. It is important that one does the appraisal because it will help in dividing the equity later on if there is a dispute between the two sisters. Also one should have proper documentation of dealings in such cases.
I hear from a lot of people who have trusted their relatives and tried to help them and then when the right time comes, they cannot get their well-deserved equity.
God bless Rosie and others who help people get out of problems in life.
Samantha
I agree with your suggestion on this issue. It is important that one does the appraisal because it will help in dividing the equity later on if there is a dispute between the two sisters. Also one should have proper documentation of dealings in such cases.
I hear from a lot of people who have trusted their relatives and tried to help them and then when the right time comes, they cannot get their well-deserved equity.
God bless Rosie and others who help people get out of problems in life.
Samantha
