Home Buying in 70806>Question Details

Melissabarke…, Home Buyer in 70806

In Louisiana, can I be on the Title but not on the loan?

Asked by Melissabarker4290, 70806 Fri May 11, 2012

My husband works and I am a stay at home mom. I have no credit score. If i were on the title but not the loan would he owe me half if we split? If I couln't be on the title or the loan would I be entitled to anything if we split? I do not want to have no rights if something happened.

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4
Whether you are on the title or the loan, if the home was purchase after you two were married you would be entitled to your community property portion in the event of a divorce. The only way you would NOT be entitled to this is if you sign a document at closing indicating that the home was purchased as his separate property. Clearly, you wouldn't be signing that.
0 votes Thank Flag Link Fri Jan 11, 2013
Yes, this is very common.
0 votes Thank Flag Link Thu Jan 10, 2013
The answer is yes, you can be on the tile without being on the mortgage. This is actually very common. There are different ways of going about accomplishing this, but first I need to know if you already purchased a home (with your husband's name already on both mortgage and title); iif you are in the process of beginning a home search; or if you are already in contract with a set closing date. With this information I can give you a "how-to" based on your particular situation. I am lucky enough to work with many great title attorneys and their employees, and can have them help me come up with detailed information for you. Kuddos for being savvy! You may not contribute to the household income, but being a mother and housewife is WORK too!
0 votes Thank Flag Link Mon May 28, 2012
Yes, You maybe on the title but not the mortgage. As far as how much entitlement to the property you would have that be determined by the courts, if there would be a split or death. Also, In Louisiana whether you are on the title or not if any thing was to happen to your husband or yourself the property is divided among children also. They assume the passing parents stake in the property.
0 votes Thank Flag Link Fri May 11, 2012
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