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  1. #1
    Join Date
    May 2014
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    1

    Post adding spouse on deed - what are the benefits

    My question involves real estate located in the State of: Florida
    I own my own home and have been married for 3 years. I asked my husband to sign a pre-nup prior to marriage on all premarital property, etc. My Husband is in the process of buying a home and I don't feel comfortable signing on the loan with him in the event we ever divorced or he defaulted on the loan and it destroys my credit. The bank gave my husband a form for me to sign to be on the deed "warranty deed". There is a right to survivorship in the paperwork that I read. My concern is the following: If he ever left the home or stop paying can me being on the deed affect my credit in anyway? Is there a benefit as the wife for being on the deed? If the house at time of sell has "equity" am I entitled to any of this money being that I'm on the deed? If I don't sign the deed - Do I relinquish any equity that I may have been entitled to? Please help I have until I think Monday to sign the deed paperwork if it benefits me in anyway, if not I won't sign it. THAnKS!!

  2. #2
    Join Date
    Oct 2006
    Posts
    15,981

    Default Re: Should You Add Your Spouse to the Deed of a Home You Owned Before Marriage

    Quote Quoting famu1999
    View Post
    My question involves real estate located in the State of: Florida
    I own my own home and have been married for 3 years. I asked my husband to sign a pre-nup prior to marriage on all premarital property, etc. I didn't feel comfortable signing on the loan with him in the event we ever divorced or he defaulted on the loan and it destroys my credit. The bank gave my husband a form for me to sign to be on the deed "warranty deed". There is a right to survivorship in the paperwork that I read. My concern is the following: If he ever left the home or stop paying can me being on the deed affect my credit in anyway? Is there a benefit as the wife for being on the deed? If the house at time of sell has "equity" am I entitled to any of this money being that I'm on the deed? If I don't sign the deed - Do I relinquish any equity that I may have been entitled to? Please help I have until I think Monday to sign the deed paperwork if it benefits me in anyway, if not I won't sign it. TTHAKS!!
    Yes, it benefits you to be on the deed. There is no disadvantage for YOU to be on the deed. If its a disadvantage for anyone for you to be on the deed, its a disadvantage to HIM.

  3. #3
    Join Date
    Nov 2007
    Location
    Officially across the country from where I've been all my life
    Posts
    4,494

    Default Re: Should You Add Your Spouse to the Deed of a Home You Owned Before Marriage

    Anytime someone wants to go into a marriage and only thinks about reaping the benefits without wanting any of the liabilities, that's a marriage that shouldn't happen. Since you don't want to deal with anything that may go wrong, including it destroying your credit if he defaults, why don't you let him have this house to himself (assets, liabilities and all).

    Seriously, someone who says they'll sign the paperwork "if it benefits me in anyway, if not I won't sign it" shouldn't be married because you're too busy looking out for self. Seriously, if you want to keep your single mindset, stay single or you'll be back in a few years trying to get advice on your divorce. Please show your husband this thread so he can see what he's dealing with.

  4. #4
    Join Date
    Oct 2006
    Posts
    15,981

    Default Re: Should You Add Your Spouse to the Deed of a Home You Owned Before Marriage

    Quote Quoting CourtClerk
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    Anytime someone wants to go into a marriage and only thinks about reaping the benefits without wanting any of the liabilities, that's a marriage that shouldn't happen. Since you don't want to deal with anything that may go wrong, including it destroying your credit if he defaults, why don't you let him have this house to himself (assets, liabilities and all).

    Seriously, someone who says they'll sign the paperwork "if it benefits me in anyway, if not I won't sign it" shouldn't be married because you're too busy looking out for self. Seriously, if you want to keep your single mindset, stay single or you'll be back in a few years trying to get advice on your divorce. Please show your husband this thread so he can see what he's dealing with.
    While I agree with you to a great extent I also cannot fault someone from wanting to protect their premarital assets or their credit rating, particularly if its later in life. Yes, one should go into marriage with the mindset that they are sharing life together as partners, but that still doesn't mean that they should not protect their premarital assets and credit rating, particularly if they have separate children.

  5. #5
    Join Date
    Nov 2007
    Location
    Officially across the country from where I've been all my life
    Posts
    4,494

    Default Re: Should You Add Your Spouse to the Deed of a Home You Owned Before Marriage

    If you fear that the person who you're marrying is going to somehow wreck your credit, then maybe you should be thinking about marrying them anyway. She's worrying about protecting her own ass while not minding one minute if he's concerned whether she would screw him all to h*ll. If the concern is credit and assets, then let him have his house and she's already got hers. Easy peasy.

    But don't say that you'll only sign your name to something IF IT BENEFITS YOU because otherwise, it's of no consequence. You can try and sugar coat that all you want but I doubt anyone who is married and actually is intending on staying married and wants someone who is just as concerned with them as they are themselves wants someone who would pose this kind of question and contemplate this.

    I had separate assets from my husband. They'll stay separate, but I'm certainly not wondering whether or not I should put my name on something he's buying ONLY if it's going to benefit me in the end. If I'm willing to take the good, then I'm willing to take the bad too. Then again.... I chose well.

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