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Question DetailsAsked on 7/10/2013

If I'm not on the deed is that a problem?

We have a joint checking account, could there be a problem for me with the house?

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If you are not on the deed you have no onwership rights in it - period - it can be transferred tomorrow without any say-so by you, or recovery of any cost you put into it. Even then, makes a difference if you are joint owner equally, joint with right of survivorship, or joint by the entirety (google the terms).

If you paid for a portion of the house, your name should be on the title as an owner of a specified percentage, with or without right of survivorship as you desire.

If you paid for it all, then only your name should be on it, otherwise you lose (typically) half ownership, plus you cannot sell it without both parties agreeing.

Remember also, in most forms of joint ownership, either party can sell their share, so you could potentially end up co-owning a house with a totally different person.

I would say you need a Real Estate Attorney, and probably also an Estate attorney to talk with you about ownership, asset protection, property rights, survivors and heirs, Will, etc.

Answered 7 years ago by LCD




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