Legal Question in Real Estate Law in Minnesota
benifecary
In a marriage in which I just entered into my spouse is the only name on the mortgage for our home.If my spouse dies our home will be paid for with insurance but who gets the house if there is no will? My spouse tells me it goes to me but I want to be sure.
Thanks much
1 Answer from Attorneys
Re: benifecary
The question you should be asking is whose name is on the deed. The name on the mortgage makes little difference. The deed creates the ownership, not the mortgage. Most married couples own jointly, but you ownly have joint ownership if the deed says so.
I have a horror story on this topic on the front page of my web site at http://www.kelly-law.com.
Certain magic words are required to create joint tenancy. You should take a copy of your deed to a lawyer for review to make sure you have them.
If there is a death without that, the spouse may only get a life estate under our probate law. Or if you name is on the deed with the wrong language, you may have a tenancy in common instead of joint. Either one is not such a good deal.
One more thing. What are you guys doing without a will? It makes a very good backup plan is something turns out to be wrong with that deed.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
