Adding Name to Deed or Title of Home Purchased by My Fiance
My question involves real estate located in the State of: Florida
My fiance and I are buying a foreclosed home in Florida. He is the only one on the loan and contract, because we thought it would be easier that way since we aren't married yet. I am however paying a large part of the down payment and we both want the title and the deed of the home to be in both of our names with sole rite of survivorship. We are closing next week so how do we do this?
Will adding me to the title accomplish this?
Should we do a quit deed and if so how soon can we add that?
Will we need to hire a real estate lawyer?
Thanks
Re: Adding Name to Deed or Title of Home Purchased by My Fiance
You have to be careful as any conveyance of title could breach the terms of his mortgage. If you want to be on the title, I suggest clearing it with the lender in advance and trying to be placed on the title at the closing. It may be possible to do that without being a borrower on the mortgage, provided you sign releases indicating that you will allow foreclosure to proceed if your fiancé defaults.