Home Buying in 60620>Question Details

sayaman, Home Buyer in Attleboro, MA

We just bought a property in Chicago and only my wife's name is on the deed and mortgage. What rights do I have to the property?

Asked by sayaman, Attleboro, MA Tue Apr 23, 2013

Obviously I don't wish that my marriage goes wrong, but if it does, am I protected at all in terms my rights to the property?

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Answers

11
Speak with the attorney as to how the ownership is claimed. They will tell you your options.
1 vote Thank Flag Link Tue Apr 23, 2013
Im not an attorney - so do not heed this as your final legal advice, however; This would still be considered a marital asset and you would have equal entitlement to the property.
I highly recommend that you ask your attorney to be sure

Sam Sharp
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1 vote Thank Flag Link Tue Apr 23, 2013
If your wifes name is the only one on the deed that means you signed away homestead. If that is the case, you don't have any rights to the property. However, if she is on the Deed and the Note and you are just on the Deed, it's still 1/2 your house. The Note is just who is responsible for the payment. The DEED is who owns it.

Sean Cochran
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0 votes Thank Flag Link Wed May 1, 2013
This is a question a Real Estate attorney would definitely be able to help you with. Give your attorney a call!
0 votes Thank Flag Link Tue Apr 23, 2013
If you do not have ownership, you only have homestead rights, which would be subject to loss in the event of a divorce. You have very limited rights to the property and I would suggest you talk to an attorney if you are concerned about this.
0 votes Thank Flag Link Tue Apr 23, 2013
Attorney of course. When I lived in Florida both the man and wife are legally the property owner even if only one name is on the deed or mortgage. It varies state to state. I don't know the law in Mass, that's your lawyers job.
Good luck!
0 votes Thank Flag Link Tue Apr 23, 2013
Thank you everyone for quick response. Yes, we will consult an attorney.
0 votes Thank Flag Link Tue Apr 23, 2013
call Jim Schutlz at 773 680 7426 for a legal consultation on this
0 votes Thank Flag Link Tue Apr 23, 2013
This is defiantly an attorney question and you should speak with your wife to how you want to handle this situation. As Bill said you can use and attorney to help with the process. Just know if you are legally married; meaning recognized by the state and federally you already have rights. However, it is always best to have things in writing especially when it comes to real estate. I know from personal experience.
0 votes Thank Flag Link Tue Apr 23, 2013
Did you use an attorney? He/she can provide you with the proper legalese. If you are not on Title then you can quit claim yourself at a later date on to the Title. Therefore, you will not be responsible for the mortgage but still have ownership in the home.
0 votes Thank Flag Link Tue Apr 23, 2013
That is a legal question and those folks do not respond on this site, but why not contact the attorney that handled the transaction?
0 votes Thank Flag Link Tue Apr 23, 2013
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