Posted on: 01st Aug, 2007 11:19 am
ok, this is a long question, my grandfather who passed over a year ago willed his home to my father and my aunt. my aunt has already quit claimed her half interest to me and my father wants to do the same because he does not have the credit to refinance the house which has a mortgage against it that is still in my grandfathers name. however, my father has an estranged wife whom we haven't seen in over 3 years, so is there away around her signing away her dower rights on the quit claim?? and if my father is unable to acquire refinancing for the mortgage that is still in my grandfather's name can the bank call the loan and potentially remove his name from the deed??
"And if my father is unable to acquire refinancing for the mortgage that is still in my grandfather's name can the bank call the loan and potentially remove his name from the deed??"
Bank can ask for the mortgage to be paid off but it will not remove his name from the deed.
About your father's wife being untraceable for the last 3 years and how she can be removed from the title, you need to contact an attorney based in Ohio to know if that can be possible. He will let you know how you should deal with the estransged wife's dower rights.
Bank can ask for the mortgage to be paid off but it will not remove his name from the deed.
About your father's wife being untraceable for the last 3 years and how she can be removed from the title, you need to contact an attorney based in Ohio to know if that can be possible. He will let you know how you should deal with the estransged wife's dower rights.
Welcome Rachel.
Whether the bank will call the loan due depends on when the loan has to be repaid. If the repayment date is over, then only the bank can call the loan due and payable. Otherwise, if possible when your father transfers you his share of interest, you can try to refinance the loan in your name. This will help to pay off the loan and prevent the bank from calling the loan due. Otherwise if the bank forecloses or calls the loan due, it will have a negative affect on your credit report.
As far as dower rights are concerned, there's a possibility that your father's estranged wife will have to sign on the deed as per the laws in Ohio.
If the property is located in Ohio, then as per the laws there, the estranged wife should sign on the deed even when it's your father who wants to transfer his share of interest in the property. Otherwise, the transfer will not be valid.
Thanks.
Whether the bank will call the loan due depends on when the loan has to be repaid. If the repayment date is over, then only the bank can call the loan due and payable. Otherwise, if possible when your father transfers you his share of interest, you can try to refinance the loan in your name. This will help to pay off the loan and prevent the bank from calling the loan due. Otherwise if the bank forecloses or calls the loan due, it will have a negative affect on your credit report.
As far as dower rights are concerned, there's a possibility that your father's estranged wife will have to sign on the deed as per the laws in Ohio.
If the property is located in Ohio, then as per the laws there, the estranged wife should sign on the deed even when it's your father who wants to transfer his share of interest in the property. Otherwise, the transfer will not be valid.
Thanks.
Hi Rachel,
Under this Dower Rights, whenever a married person buys real estate in Ohio, his spouse automatically becomes the recipient of this "dower" interest. Dower is a partial interest in the real estate. Any transaction, including a loan is not effective unless that spouse also signs the document.
Now, if your father wants to quitclaim his property to you, the sign of his estranged wife will also be required on it. And regarding the loan, if your father refinances it and either of you or your father makes the payment, then the bank cannot call off the loan.
Under this Dower Rights, whenever a married person buys real estate in Ohio, his spouse automatically becomes the recipient of this "dower" interest. Dower is a partial interest in the real estate. Any transaction, including a loan is not effective unless that spouse also signs the document.
Now, if your father wants to quitclaim his property to you, the sign of his estranged wife will also be required on it. And regarding the loan, if your father refinances it and either of you or your father makes the payment, then the bank cannot call off the loan.
Hi there… I'm a resident of Ohio. I've heard of dower rights. What is it all about and how can I establish dower rights in Ohio?
Hi Rebecca,
Dower rights can be defined as the rights of a widow in her husband's estate. This right is not applicable in all states. It is also known as "courtesy rights". This right will come into effect when a property is owned by either the husband or wife in their own name only and purchased/acquired during the time of marriage. Spouse cannot claim dower rights if the property was purchased before marriage. It should be noted that during the lifetime of the owner of the real estate, the other spouse has an undivided and lifetime interest in the property. Thus, if the owner of the property decides to sell it off, the spouse has to sign off his/her interest in it. Dower refers to the wife's rights whereas courtesy refers to the husband's rights.
As far as Ohio is concerned, dower rights are applicable. If order to establish the dower rights, one has to be married to the real estate owner.
Take care.
Dower rights can be defined as the rights of a widow in her husband's estate. This right is not applicable in all states. It is also known as "courtesy rights". This right will come into effect when a property is owned by either the husband or wife in their own name only and purchased/acquired during the time of marriage. Spouse cannot claim dower rights if the property was purchased before marriage. It should be noted that during the lifetime of the owner of the real estate, the other spouse has an undivided and lifetime interest in the property. Thus, if the owner of the property decides to sell it off, the spouse has to sign off his/her interest in it. Dower refers to the wife's rights whereas courtesy refers to the husband's rights.
As far as Ohio is concerned, dower rights are applicable. If order to establish the dower rights, one has to be married to the real estate owner.
Take care.
Thanks for the information. Another question about this: if my wife owns our home in her name only, can I buy a house and be considered a "first-time" home buyer for the $8000 tax credit?
Welcome Guest,
If you did not own any property for the last 3 years, then you can buy a property now and receive the first time homebuyer's tax credit. You would be considered a first time homebuyer in that case.
If you did not own any property for the last 3 years, then you can buy a property now and receive the first time homebuyer's tax credit. You would be considered a first time homebuyer in that case.
I recently bought a home and my husband is not on the loan nor the deed. We have not been married long and I would like to leave my home to my adult children in the event I die before my husband. What do I need to do to be sure that my home will go to my children and my husband will have no legal right to the home. Is there something that can be drawn up by an attorney for this situation. Also is there something I can have drawn up so that if I decide to sell my home, I do not need his signature?
Hi Debbie,
You can sign a quit claim deed and transfer your property to your adult children. You can include the clause of life estate in the deed which will help you in staying in the property until death.
Take care.
You can sign a quit claim deed and transfer your property to your adult children. You can include the clause of life estate in the deed which will help you in staying in the property until death.
Take care.
I don't want want to do a quit claim and transfer my property to my children now, I want to put that in my will. I just want to know what I can do so that my husband has no legal claim to my house even though I bought it while we were married. He is not on the loan or the deed, but I understand that because we were married when I purchased the house, he has legal claim when I die.
Hi Debbie,
You can draft a will and declare your children as the heir to the property. Thus, your husband will not be able to claim his share of the property after your death. You may even consult a real estate attorney and he may assist you with some of the other ways to transfer the property to your children.
Thanks.
You can draft a will and declare your children as the heir to the property. Thus, your husband will not be able to claim his share of the property after your death. You may even consult a real estate attorney and he may assist you with some of the other ways to transfer the property to your children.
Thanks.
The house we live in is owned by by wife,and was purchased after our marriage...because of my dower rights,it is my understanding that my wife cannot sell the property without my signature,correct?
Hi Charlie,
It is true that your spouse will not be able to sell off the property unless you sign and transfer your share of the property to your wife.
It is true that your spouse will not be able to sell off the property unless you sign and transfer your share of the property to your wife.
Hi carla,
If you sign away your dower rights, then you won't be able to claim any share from that property. If it's acceptable for you, then you can go ahead and sign away your rights.
If you sign away your dower rights, then you won't be able to claim any share from that property. If it's acceptable for you, then you can go ahead and sign away your rights.
I bought my house (in Ohio) before I married my husband, so the note is only in my name. We will be getting a divorce soon, and he has threatened to sue me for monies he has contributed to the household expenses. Does he have and curtesy rights, and what are my rights, if any? He is purchasing a property in KY next week, and we have not finalized the divorce. Does that mean that i have dower rights to this property, as we are still legally married?
Help! thank you.
Help! thank you.