Legal Question in Real Estate Law in New Jersey

Re: adding a name to the deed

Another way to do it would be to give the other person a mortgage for the investment to be paid back when the house is sold or the relationship ends.If you get married you may want a different outcome and you should then have a pre-nuptial agreement. If putting the other name on the deed is preferred the house would have to be apppraised and his share would be the appropriate percentage. A refinance of your current mortgage should not be necessary. If you need more help or have to prepare document, please call for an appointment. Thank you.

Re: adding a name to the deed

Another way to do it would be to give the other person a mortgage for the investment to be paid back when the house is sold or the relationship ends.If you get married you may want a different outcome and you should then have a pre-nuptial agreement. If putting the other name on the deed is preferred the house would have to be apppraised and his share would be the appropriate percentage. If you need more help or have to prepare document, please call for an appointment. Thank you.

Re: adding a name to the deed

First, adding a name to the deed may violate your mortgage.

Second, I always recommend NOT adding a name to the deed without having a co-owners' agreement that spells out what happens if either wants to leave and how the value will be determined.

If you compensate your partner for his investment, why would you add his name to the deed? You would be reimbursing him for the expense, plus giving up $225,000 of the value of your home plus any appreciation over time.

Please consult a real estate attorney in your area who is experienced in assisting unmarried co-owners of real estate, if you do decide to add his name to the deed.

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Re: adding a name to the deed

Love is wonderful. Do not do this. Ever. Period.

Please sit down with a divorce attorney who has some knowledge of real estate. Find out what all of this does. It will scare you. The other attorneys have already set out some of the problems.

Ask the attorney how you can do what it is that you want to do.

Please, please do not give away half of your house. Even if you get married, you will not want to do that. Please consult an attorney, get a clear idea of how to do what you seek to do.

This is not cold-blooded nor selfish. That house is a very large part of all the money you have in the world, and it took a great deal of your effort to get it. Please see a lawyer and listen to the lawyer.

On the other hand, you could ignore the advice the attorneys are giving you, and in that case, when things go poorly in a couple of years, you will be paying a lawyer five, ten thousand dollars or more, to try to get your house back. You might actually get it back. I have handled a couple like that, and it is unbelievably bad for the home-owner.

If you would like, give me a call; I am in northern New Jersey. I will be happy to discuss this with you; the telephone consultation will be free.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

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