Legal Question in Real Estate Law in New York

Re: Deeds & marriage

The bank may object to the placing of your name on the deed.

Re: Deeds & marriage

If the lender does not object, yes.

Re: Deeds & marriage

If the bank has no objection, you can be added to the Deed. They may want this to occur after the closing, since if you are not on the mortgage, but on the Deed at the closing, they do not have full protection in the event of a default. By going on the Deed after the closing, they are covered for the full value of the house at the time of the mortgage closing and you can be listed as the owner for any value over the mortgage, as a joint owner, thereafter.

Re: Deeds & marriage

Be aware, if you decide to add your wife to the deed after closing, that most mortgages provide for an acceleration in the event of a change of ownership. That means that they may demand payment in full when her name goes on.