Legal Question in Real Estate Law in Maine
Real Estate
My husband is not on the deed of our home, can he be added without haveing to refinance and spend megabucks. Can we sign a paper or something saying the house is his if I die. The same with his apartment house, he wants my name on that too.
1 Answer from Attorneys
Re: Real Estate
It is not complicated or expensive to add a spouse to a deed. Basicly, you would sign a Quitclaim Deed conveying the property from you to you and him as joint tenants with a right of survivorship. The fee is modest, less than $200. However, if the property is subject to a mortgage, most mortgages have a clause stating that a conveyance (which this technically is) will create a default and the entire loan will accelerate and be due at once. Thus, there is often the need to refinance to avoid this risk.
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