racer254 Posted May 30, 2018 Share Posted May 30, 2018 All, So my brother just recently sold a house to a couple from Kenya that had a small child. Supposedly they were married, but a something he told me that was puzzling. The husband did NOT want his name on the house or associated with the house. Every house that I have bought and sold had to have my spouse on the title. I guess I was told my spouse had to be on the title and I was curious on how these people were getting away with the Husband not being on there. Any ideas? Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted May 30, 2018 Gold Member Share Posted May 30, 2018 Single moms get all sorts of government assistance. Quote Link to comment Share on other sites More sharing options...
F3600 Posted May 30, 2018 Share Posted May 30, 2018 If the wife can stand up on her own for the financing, I don't believe the mortgage company is going to require it. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 30, 2018 Share Posted May 30, 2018 spouse often is not on title. Reasons could be credit, type of job and potential liability risks etc. i hold title with my wife on my primary but in an LLC on investments. We have some loan programs that won't let a spouse on title if they are not on the loan. i see this often with doctors where they don't want their name on it, my first place i bought with my old man as a cosigner but last thing he wanted was his name on a property with a college student. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 30, 2018 Share Posted May 30, 2018 Very common actually. Quote Link to comment Share on other sites More sharing options...
racer254 Posted May 30, 2018 Author Share Posted May 30, 2018 Good to know. It still is all considered marital property though, correct? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 30, 2018 Share Posted May 30, 2018 Just now, racer254 said: Good to know. It still is all considered marital property though, correct? Yup. I dont have title on my home due to potential liability, but matters none. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 30, 2018 Share Posted May 30, 2018 1 minute ago, racer254 said: Good to know. It still is all considered marital property though, correct? yes and no in the event of a divorce it is a marital asset in most states but someone suing him could not take it because it's not his property Quote Link to comment Share on other sites More sharing options...
Im4snow Posted May 30, 2018 Share Posted May 30, 2018 24 minutes ago, racer254 said: All, So my brother just recently sold a house to a couple from Kenya that had a small child. Supposedly they were married, but a something he told me that was puzzling. The husband did NOT want his name on the house or associated with the house. Every house that I have bought and sold had to have my spouse on the title. I guess I was told my spouse had to be on the title and I was curious on how these people were getting away with the Husband not being on there. Any ideas? Is there last name Obama, by chance? Quote Link to comment Share on other sites More sharing options...
racer254 Posted May 30, 2018 Author Share Posted May 30, 2018 Just now, Im4snow said: Is there last name Obama, by chance? LOL NOPE Quote Link to comment Share on other sites More sharing options...
Momorider Posted May 30, 2018 Share Posted May 30, 2018 34 minutes ago, Im4snow said: Is there last name Obama, by chance? Sorrento Quote Link to comment Share on other sites More sharing options...
T1R9sledder Posted May 30, 2018 Share Posted May 30, 2018 Very common my house is in my name only. Quote Link to comment Share on other sites More sharing options...
Pete Posted May 30, 2018 Share Posted May 30, 2018 Both my wife and I are on the note from the bank. Me first Quote Link to comment Share on other sites More sharing options...
favoritos Posted May 30, 2018 Share Posted May 30, 2018 It is one to buy and two to sell around here for housing. Makes for messy divorces sometimes. One can accumulate the debt. Both are liable. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 30, 2018 Share Posted May 30, 2018 Does the guy take flying school lesson? 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 30, 2018 Share Posted May 30, 2018 1 hour ago, Angry ginger said: yes and no in the event of a divorce it is a marital asset in most states but someone suing him could not take it because it's not his property Like an inheritance, it would probably be subject to co-mingled property rules, don’t you think? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 30, 2018 Share Posted May 30, 2018 22 minutes ago, spin_dry said: Like an inheritance, it would probably be subject to co-mingled property rules, don’t you think? Inheritances don't get split in divorces if kept seperate. Use it to buy a matrimonial home and its game over. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 30, 2018 Share Posted May 30, 2018 5 minutes ago, ArcticCrusher said: Inheritances don't get split in divorces if kept seperate. Use it to buy a matrimonial home and its game over. I just said that. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted May 30, 2018 Share Posted May 30, 2018 54 minutes ago, favoritos said: It is one to buy and two to sell around here for housing. Makes for messy divorces sometimes. One can accumulate the debt. Both are liable. Being liable would depend on state law, in general if you did not sign for it your not liable for that debt- that said the banks getting theirs regardless from one or the other in the case of a mortgage so if the court awards the property to the non borrowing spouse the loan either still gets paid or the homeowner goes. In many states the spouse would have had to execute documents at the closing so that there is no misunderstanding on that and homestead laws would also come into place in the case of debt not secured against a residence but not all states require non borrowing spouses to sign. 44 minutes ago, spin_dry said: Like an inheritance, it would probably be subject to co-mingled property rules, don’t you think? asset bought/acquired during the marriage would be co mingled and distributed as marital property for the most part. there may be some state law exceptions for premarital assets and their growth. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 30, 2018 Share Posted May 30, 2018 7 minutes ago, Angry ginger said: Being liable would depend on state law, in general if you did not sign for it your not liable for that debt- that said the banks getting theirs regardless from one or the other in the case of a mortgage so if the court awards the property to the non borrowing spouse the loan either still gets paid or the homeowner goes. In many states the spouse would have had to execute documents at the closing so that there is no misunderstanding on that and homestead laws would also come into place in the case of debt not secured against a residence but not all states require non borrowing spouses to sign. asset bought/acquired during the marriage would be co mingled and distributed as marital property for the most part. there may be some state law exceptions for premarital assets and their growth. Thanks Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.