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55051 : Real Estate Advice

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Fri Apr 29, 2016
June Buerkle answered:
No way in hell should you put a roommate on the deed with you if they are not a party to the mortgage.

You are the owner and they can pay rent, but don't put someone else';s name on your asset. You do not want your roommate making decisions about your property as they could prevent you from selling the property if you want to leave ... or even worse, if the roommate's credit is bad enough a debtor could file a lien against your house or even potentially win a judgement awarding them the house.

If you want the roommate to have the house when you die ... that is what a will is for .... plus you would save the roommate a ton in taxes if you will it to them versus naming them on the deed.
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