What to do if my husband is terminally ill and his health is declining and he holds the mortgage on our current home in his name only?
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What to do if my husband is terminally ill and his health is declining and he holds the mortgage on our current home in his name only?
Would it be beneficial to try and add my name to the mortgage/deed now prior to his death? If so, does that mean that we need to refinance our mortgage or can we do a quitclaim deed to add me?
Asked on April 2, 2013 under Estate Planning, Florida
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
You may want your husband to deed the house from himself, to himself and you as joint tenants, which gives you the right of survivorship of his share upon his death. However, thisd does not put the mortgage into your name. You will need to negotiate with the lender on that matter. The lender may allow you to add your name to the mortgage; however you are advised to seek the assistance of a probate lawyer to advise you of the ramifications, as their may be some exposure to you financially.
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