Legal Question in Real Estate Law in California
interspousal transfer deed
My husband recentlt refinanced our house. He has owned the house for 17 years of which we have been married six of those years. My name has never been on the deed for the house, and I never had to sign one of these papers for any of our first two loans. When I asked why I had I was told it was for the loan purposes only. I kind of knew what it was but was not fully aware of all that is involved by signing it. If my husband were to die tommorrow,by me signing that paper I have no rights to the house if he has no will(which he doesn't). The lender could throw me and my kids out on the street and I would still be responsible for the loan,correct? How can I fix this problem and what papers do I need to get in order to change this fact? Also we were not given copies of what we signed at the time we signed them. We did not get them until late in the afternoon of the day we could back out of the loan free and clear, which seemed a little odd to me. And the copy of the inter deed was not among them at all. I just received a copy of it in the mail along with a document from the courts stating that it has been filed. This concerns me a great deal and I would like to know how to fix this problem. We live in los angeles,Ca. Thank you.
1 Answer from Attorneys
Re: interspousal transfer deed
Your scenario presents several issues. If you signed the promissory note, you are liable for the loan. It sounds like you signed something stating that the property is your husband's separate property (all his), and not community property (both of yours). If your husband dies without a will or other estate planning, you (as his wife) will inherent some of his estate, which estate would include the property. Also, if your husband dies, and the mortgage is paid, the lender will likely never care. Another issue is whether community property money was used to pay the mortgage on the property for the last 6 years. If so, an argument could be made that there is a community property interest in a portion of the house. However, there is a presumption of ownership based on how title is held. Again, your scenario presents several issues, some of which are complicated. This response cannot possibly answer all of them. If you desire further help, feel free to contact us.
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