Legal Question in Real Estate Law in Maryland
What is the best way to add a name to a deed?
My boy friend and I bought a house a year ago this Oct. ($60,000). At the time of settlement my name was not put the deed or the loan mainly because of my bad credit due to my x husband, but was told that my name could be added later. We had planned to marry later this year and then add my name to the deed. but now we have decided to go our separate ways. He said I could have the house sense I was the one who worked and saved the money that was needed to get it. What is the best way to do this? Would it be easier to just add my name to the deed, which he would still be part owner or have the deed transfer to my name? By the way the reason we split up, he admitted he was cheating on me. Just though that might be helpful information incase there is another way to go. Thanks for a reply.
1 Answer from Attorneys
Re: What is the best way to add a name to a deed?
If the soon to be ex is willing to transfer his interest in the property to you, the way this is done is to have him execute a quitclaim deed, transferring his interest to you. You want his name completely off the deed, so that you can sell or refinance the property later on without his cooperation.
The mortgage poses a different problem. Technically, if he transfers the property, the mortgage becomes immediately due in full. As a practical matter, as long as the monthly payments are sent on time, the mortgage company probably won't care. However, if you're able now to get credit in your own name, you may want to refinance and pay off the existing mortgage. If your ex is smart, he'll want you to do this too to protect his own credit.
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