Legal Question in Real Estate Law in Pennsylvania

Name on Deed After expansion

We are married, the house deed and mortg. are in his fathers name. We are almost ready to start digging for the expansion of the house which we will be paying all out of pocket (husband and I). The latest is that his father asked to put our names on the deed after all the work is done and keep the morg. loan in his name.

I am concerned in protecting myself and my portion of the investment.

1. The current amt. owed is approx 65K and an approx value when were done is min. 110K (all expansions paid for in full).

2. I think we should be added to the deed now vs. later need advise here

3. Adding names now vs. later when the house apraises at less would avoid risk of tax increase at the higher vale by adding names then? Am I close?

My husband agrees and understands my concerns, his father knows its a concern to me and open to discussing.

First it was transfering everything over when we married, then reasons not to. Then putting name on deed and now putting name on deed after expansion.

I'm concerned and need to tend to my best interest as well.

Thoughts....Suggestions.....Input would greatly be appreciated....

Thank You,

1 Answer from Attorneys

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