Legal Question in Real Estate Law in New Jersey
Deed not in my name
When my husband and I were first married ten years ago we couldn't afford to purchase a home on our own. His mother helped us with the down payment and because I had less than perfect credit, the house was purchased under my husband's name (who I will call ''Joe'') and my mother-in-law's name. The deed is in their names.
We have since refinanced. I told Joe I wanted my name on the deed. I was called to the bank to sign a paper to get this accomplished. I have since found out that I was only signing a paper stating that I lived in the house. My stupidity for not reading the fine print.
My question is what are the repurcussions, if any, of my name not being on the deed? If something should happen to Joe, does my mother-in-law now own the entire house? Would I be entitled to Joe's share? Joe says nothing is getting changed on the deed until his mother is paid back in full. I feel betrayed and belittled by Joe stating this (which is a question for ask a relationship expert, I guess). After all, I am his wife and he should feel I am entitled to be on the deed.
Also, what would have to be done to get my name added to the deed?
1 Answer from Attorneys
Re: Deed not in my name
If you live in the house and are still married, you have a legal interest in the property even if your name is not on the deed. Should your husband die you would inherit the house unless he has a will that says differently. To add your name to the deed you need him to sign a new deed to both of you. An attorney can do that with a copy of the old deed. It probably would cost 2-3 hundred dollars. As to you mother in law, in order to protect her, you and your husband should sign a mortgage to her for the amount due back to her. Otherwise, it is possible, with nothing in writing, that she may not be paid at all. If you need more answers or help, pleas call for an appointment and mention law guru to get the first half hour free.
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