Legal Question in Real Estate Law in New Jersey
Real Estate
Hi Myself and my husband bought a townhouse couple of years ago.My name is not included in the loan,but my husband want to include my name in the deed,is it possibe to include my name?if so how much will it cost me?
Asked on 7/20/07, 12:59 pm
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
Re: Real Estate
Unless the lender consents, your husband cannot give you an ownership interest in the property. That would constitute an act of default under the mortgage and, unless the transaction were reversed, the lender would foreclose.
The lender may consent if you agree to become responsible under the mortgage. That would probably require a refinancing.
See also: http://info.corbettlaw.net/lawguru.htm
Answered on 7/20/07, 1:41 pm
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