Asked by Mememe777, Trenton, NJ • Wed Oct 20, 2010
My husband and I are buying a home in NJ. I am currently unemployed and own a home of my own and he also owns another home where his emancipated children live. How should we be listed on the title/Deed of the new home? Jointly? Are title and Deed the same thing? Further, when I sell my home I will be putting my equity (money) into the new home doing a "re-cast" option allowed on the loan. I need to protect myself just in case of divorce - when I deposit my money from the sale of my home into our joint account, that we will be setting up, who should I make the check out to, my husband? Or, should I deposit the check into my personal account first and then write the check directly out to the mortgage company? Would you also know if deed is in both our names, does he have authority to change that if he is the only person carrying the loan? Thank you very much!
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