Legal Question in Real Estate Law in Massachusetts
adding our names to deed after closing
Mortage broker told us that we can only get the house we want under my moms name because of her credit and the price of the house, My mom will not be paying the mortgage (We will be.)
We were told that after closing we can hire a lawyer to add my husbands name to the deed.
Is this true? If so, how long after closing?
Thank you.
1 Answer from Attorneys
Re: adding our names to deed after closing
Yes you can add your husband's name, at any time after the closing. It must be done properly, however, because mortgages generally have what is called a "due on sale" clause, which means that if you sell the property you have to pay off the mortgage. While is is rather rare, banks have been known to take the position that adding someone to the deed constitutes a "sale", and thus the bank could make your life miserable if it wanted to. Talk with a lawyer BEFORE you sign an offer to purchase or a purchase and sale agreement to get good advice. The broker should not be giving you legal advice; that's what lawyers are for. Best wishes.
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