Legal Question in Real Estate Law in Missouri
My boyfriend and I want to buy a house in Missouri. If I pay for the house, can I be listed as the mortgager on the deed and also be listed as co-owner? I am trying to find a way to list my boyfriend on the deed but also show the debt he will have to me if I buy the house.
1 Answer from Attorneys
If you buy the house, with other thatn cash, you will be the mortgagor. Since you aren't married, the boyfriend will not own any of it, unless you deed a portion to him. If you want him to be on the hook, then it needs to be joint mortgage. If he isn't on the note, he won't anything for the house. But, you may execute a seperate note, whereby he agrees to pay you a portion of the mortgage for getting to live there. If you buy the house for cash, there will be no note, mortgage or deed of trust. You could have the house deeded to both of you as single people, and then execute a note whereby he owes you for half of the purchase price.
Good luck