Posted on: 26th Nov, 2009 06:35 pm
I am the owner of property and I want to give my niece 8 acres of it so her and her fiancee can build a house. The fiancee will be the only one on the loan for the house. He wants to be the only one on the deed. Can her name be only on the deed and not one the actual mortgage loan. Her credit is bad but his is good but I do not want to hand over 8 acres to him without her name at least being attached to the land.
Hi Carol!
Welcome to forums!
Your niece and her boyfriend both can be on the property deed whereas the loan can be originated in the name of the boyfriend if his credit is good. Thus, your niece would be the owner of the property along with her boyfriend but she won't be responsible for the mortgage dues.
Happy Thanksgiving Day :)
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your niece and her boyfriend both can be on the property deed whereas the loan can be originated in the name of the boyfriend if his credit is good. Thus, your niece would be the owner of the property along with her boyfriend but she won't be responsible for the mortgage dues.
Happy Thanksgiving Day :)
Feel free to ask if you've further queries.
Sussane