Posted on: 14th Mar, 2007 02:02 pm
my husband and i were going to divorce over a year ago. he transferred his rights to the house to me, and i refinanced in my name. we have since reconciled, and i want to put him back on the house. he is going to pay down the mortgage, but i have a good rate and we don't want to refinance now. can i use a quit claim deed to put him back on the title?
Good to hear that you were able to reconcile and avoid divorce :)
Yes that can be done, in the new quit claim deed you will now be the grantor and he will be named as grantee. You must be aware of the procedure as you have done it previously. But inform the lender about it, he should not have much concerns as long as the payments are regularly made.
David
Yes that can be done, in the new quit claim deed you will now be the grantor and he will be named as grantee. You must be aware of the procedure as you have done it previously. But inform the lender about it, he should not have much concerns as long as the payments are regularly made.
David
Welcome Kct,
A quit claim deed can be done to put your husband on the title.
It's good if he is willing to pay the loan on your behalf. You need not refinance if you are comfortable with the rates.
However, there is one concern over here. I think neither of you will qualify for the tax deduction even though your deductions are itemized.
I have a doubt on this issue because your husband's name isn't on the loan, yet he is paying on your behalf whereas his name is on title. Also, your name is on title as well as on loan but you aren't paying for it. You may consult a tax advisor on this issue.
Thanks.
A quit claim deed can be done to put your husband on the title.
It's good if he is willing to pay the loan on your behalf. You need not refinance if you are comfortable with the rates.
However, there is one concern over here. I think neither of you will qualify for the tax deduction even though your deductions are itemized.
I have a doubt on this issue because your husband's name isn't on the loan, yet he is paying on your behalf whereas his name is on title. Also, your name is on title as well as on loan but you aren't paying for it. You may consult a tax advisor on this issue.
Thanks.