If 1 name is on the mortgage but 2 names are on the deed, who is entitled to what?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If 1 name is on the mortgage but 2 names are on the deed, who is entitled to what?
Fiancé and I bought a home together. The mortgage is in my name. The title is in both of our names showing us as married though we are not. The application for the deed showed us as each being single. We didn’t pay it any attention b/c we planned to get married. We both came to the table with $10k. My $10k went into closing costs and renovations on the home. Her $10k went towards furniture and renovations on the home. Her parents gave her $20,000 which she gifted to me and had to sign a gift letter addendum. We used the $20,000 as a D/P. If I keep the home what is she entitled to and vice versa?
Asked on August 29, 2012 under Real Estate Law, Michigan
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Title to the real proeprty answers your question. Since legal title is in your name to the property, under the law it is presumed to be your property 100%. However, your fiance' contributed money to the home on her own and through her parents in addition to your money. From what you have written, your fiance' has an ownership in the property as well. I suggest that you go to a real estate attorney and have a grant deed drafted for you to sign giving your fiance' an equal interest in the property.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.