Home Buying in 93705>Question Details

Trish20220, Home Buyer in Fresno, CA

my husband and i are purchasing an investment home. we both went in half and half but i had to sign myself off the loan because of my credit score.

Asked by Trish20220, Fresno, CA Sat Aug 20, 2011

is it easy for me to go back on the title as community property by only using the interspousal grant deed or the grant deed?

Help the community by answering this question:


Hi: Talk to your Title rep. Let him know what you want. You will be deciding "how to take title" before you close escrow.
Web Reference: http://www.debraenos.com
1 vote Thank Flag Link Sat Aug 20, 2011

Ask your Title agent to execute an Inter-Spousal Grant Deed putting you back on Title. In CA property bought during the marriage with comingled funds is community property. You can aske either your lawyer or your Title agent to fix this for you.
0 votes Thank Flag Link Tue Oct 18, 2011

Most likely you don't have to wait. This is a situation that occurs with regularity, and lenders are usually fine with spouses being on title but not being on the loan. If this is the case you will save yourself the extra cost of adding on after the fact. Have your agent check with the lender.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes Thank Flag Link Sun Aug 21, 2011
If this is a property in California. After the close of escrow you can go on title with an inter-spousal grant deed. To be prudent, do not record it for at least 90 days. The lender may be asked to buy back the loan if you change title within 90 days. Before the close of escrow have your husband sign an agreement (not part of the escrow) that this is community property and purchased with community assets. It does not have to be prepared by an attorney, but, if something happened to your spouse before the new deed was recorded it would be proof that this was meant as community asset.
0 votes Thank Flag Link Sun Aug 21, 2011
You might want to speak to an attorney or financial planner about putting all your property including your investment property into a living trust. The trust document would then spell out the beneficial interest that both you and your husband and/or your heirs have in the property.
0 votes Thank Flag Link Sat Aug 20, 2011
It is easy to go back on title. Prepare all the paperwor so when it closes you can be put back on title.
0 votes Thank Flag Link Sat Aug 20, 2011
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