Legal Question in Real Estate Law in California
adding name to title
My husband and I are getting a divorce. There is only my name on the house�s title. I want to add his name on the title for the simple cause that will allow him to get a second loan. Once he gets the loan he will pay me my investment in the house and our bills. I would like to put this in a contract. Is it possible to have a legal contract that will allow me to take his name of the title if the loan doesn�t get through or incase he refuses to pay?
1 Answer from Attorneys
Re: adding name to title
Yes, all of this can be done, but it is tricky and should be coordinated with the dissolution proceedings. If you aren't using an attorney to handle your side of the divorce, you probably should shop for one now. There are plenty of divorce lawyers and plenty of real estate lawyers. You need to find someone who understands both fields pretty well. Otherwise, there is an unacceptable risk that you will either get flim-flammed intentionally by your ex or that there will be an inadvertent mistake that is twice as expensive to fix, or delays the financing, etc.
Among the issues an attorney assisting you would look into is whether, and how much, community property interest your husband may have due to payments made during your marriage.
Many divorcing couples have property settlement agreements woven into their decree of dissolution and I believe this is the way to go, but such an agreement will deal not only with the house but also with the couple's other community and separate property.