Posted on: 24th Jan, 2011 08:10 pm
My mother-in-law wants to add my husband to her deed( not sure as beneficiary or co-owners). Her name is only on the mortgage. Would we be responsible for mortgage payments? And is there any chance if someone say fell on the property we could get sued? What would be the best thing for us?
Hi preludeh,
Adding name to the property deed won't make you or your husband liable for the mortgage payments. However, being the owners of the property, you will be liable for the maintenance and property taxes.
Thanks,
Jerry
Adding name to the property deed won't make you or your husband liable for the mortgage payments. However, being the owners of the property, you will be liable for the maintenance and property taxes.
Thanks,
Jerry