I am married living in California. I want to buy investment proprieties, on my name only, do I need a quit claim deed from my husband??

Asked by hakemn, Gilroy, CA Thu Mar 27, 2014

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Sat Apr 5, 2014
In the State of California, If you're married and wanted to buy an investment property under your name only...as a lender we will NOT fund the loan unless you have a quit claim deed from your husband.
0 votes
Huey Nguyen, Agent, San Jose, CA
Sat Mar 29, 2014
Hello Hakemn,

I agree with the agents here. California is a community property state. I have had a few clients who were married but wanted to purchase property as sole and separate property. To do so, these married folks had to have their spouses sign an interspousal grant deed at Escrow before the close of escrow. This is not legal advice or personal advice, but just some information on what I have seen in my experience.

You should strongly consider discussing this matter with a real estate attorney. I have worked with several real estate attorneys, and if you would like their contact information, please do not hesitate to contact me.

Best regards and best wishes,


Huey Nguyen
0 votes
Andrew Byrd, Mortgage Broker Or Lender, Coeur D Alene, ID
Fri Mar 28, 2014
John-

The two responses below are spot on. You will definately want to consult a real estate attorney regarding this matter. Is there a particular reason that you want to keep this just in your name? There are definately loan options out there that will allow you to be on the property by yourself. If you'd like more information please give me a call. 208-818-3768 or abyrd@afg-co.com

I hope this helps and best of luck.
0 votes
John Juarez, Agent, Fremont, CA
Fri Mar 28, 2014
It appears that you are already aware that California is a community property state. You will need the cooperation of your wife in order to buy property in your own name. You should consult with an attorney, as should she, in regard to the ramifications of acquiring property in your name only and the proper paperwork needed to do so.
0 votes
Dan Tabit, Agent, Issaquah, WA
Thu Mar 27, 2014
Hakemn,
Great question to raise with your attorney. Ultimately how you hold title and what the pros and cons of various ways of doing that are legal advice. If you are to hold it separately in a community property state you'll need to clarify this with Escrow and Title at the time of purchase.
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