My husband does not want to put my name on the deed (his only on the mortgage) because he thinks that if we divorce and I force a sale that he would have to pay me 1/2 the VALUE of the house, not 1/2 the EQUITY. Is this true?

If he owned the house before he married you. He wouldn't owe you even that much...

But if you bought it AFTER you got married... name on the deed or not... it would be different, most places would consider that community property..

Assuming you never maintained separate assets...

We do not maintain separate assets (checking, savings, etc. are together). The question still remains: We buy the house now (not married), his name on mortgage, both our names on the Deed. We are getting married in two months. If we eventually divorce, would he owe me half the value of the house or half the equity?

We do not maintain separate assets (checking, savings, etc. are together). The question still remains: We buy the house now (not married), his name on mortgage, both our names on the Deed. We are getting married in two months. If we eventually divorce, would he owe me half the value of the house or half the equity?

Legally it would be an asset he owned from BEFORE the marriage (as would any savings account or retirement earned for either of you.. But its hardly ever truly balck and white.

Delay the closing on the house... move up the marriage (or both) if it matters that much to you.

Incidentally... if you are planning for a divorce now... you really need to reconsider getting married in the first place.

Or at least the two of you draw up a prenup agreement.

Legally it would be an asset he owned from BEFORE the marriage. But its hardly ever balck and white.

Delay the closing on the house...or move up the marriage if it matters that much to you.

Incidently...if you are planning for a divorce now...you really need to reconsider getting married in the first place.

Definitely not planning on a divorce. He is just afraid that he would owe me soooooo much money. I told him that he is crazy and that we will never divorce anyway. I am 48 and he is 57. I think this will be our first and last marriage. Like I said, everything is great, he is just freaking out about having to pay 1/2 the value of a house IF we ever divorced. And no, it does not matter to me, I will stay off the Deed just for his peace of mind. Mortgage lender says it is just a good idea to have me on the Deed in case he dies.

If you are on the deed you are half owner of the house, regardless of when you get married or who has the mortgage, or who pays into it. It is definitely not in his interest to put you on the deed now. He can write a will now for much more peace of mind. It won't cost you anything if he dies with you off the deed vs on.

Value and equity in divorce are both part of the whole financial picture. His lawyer presents proof of mortgage payments and everything else he has contributed, plus assets. Your lawyer presents your name on the deed and everything else you have contributed, plus other assets. An amount is decided, and either one of you buys the other out or you put the house up for sale and split the proceeds according to the divorce settlement terms.

If you are in a community property state, asset distribution is more strictly assigned.

Definitely not planning on a divorce. He is just afraid that he would owe me soooooo much money. I told him that he is crazy and that we will never divorce anyway. I am 48 and he is 57. I think this will be our first and last marriage. Like I said, everything is great, he is just freaking out about having to pay 1/2 the value of a house IF we ever divorced. And no, it does not matter to me, I will stay off the Deed just for his peace of mind. Mortgage lender says it is just a good idea to have me on the Deed in case he dies.

At that age I think you both might have assets going into the marriage, possibly signifficant ones... You should both get those down in writing just in case eithe rouf you have to prove it... and get wills if you don't already... you don't know what a mess that can happen in the beat of a heart if you don't.

I was guessing you were both a lot younger. Things definitely get more complicated the older you get and the more you have.

At that age I think you both might have assets going into the marriage, possibly signifficant ones....You should both get those down in writing just in case eithe rouf you have to prove it.....and get wills if you don't already....you don't know what a mess that can happen in the beat of a heart if you don't.

I was guessing you were both a lot younger. Things definately get more complicated the older you get and the more you have.

That is his answer to having me off the Deed. He will get a will, which he currently does not have. I told him that I don't care either way. No divorce will be happening anyway. Also, we do not have large assets, even at our age. The recession killed us both!!

Personally... I'd say.. unless my name is on the deed... I'm not putting my name on the mortgage either... or paying 1/2 of it.

Personally...I'd say..unless my name is on the deed....I'm not putting my name on the mortgage either....or paying 1/2 of it.

Yes, that is part of MY problem. I will be paying half of the mortgage and 1/2 of the utilities. We pool our funds and make about the same amount of money. I'm just afraid that if he dies. I will be left homeless. For me it is not about divorce, its about having somewhere to live if he dies.

Yes, that is part of MY problem. I will be paying half of the mortgage and 1/2 of the utilities. We pool our funds and make about the same amount of money. I'm just afraid that if he dies. I will be left homeless. For me it is not about divorce, its about having somewhere to live if he dies.

This is no small matter... particularly given both your ages... I personally knew people that have died from heart attacks or cancer when they were younger than both of you.

And I'm not that much older than you now, (I'm 51) but I'm younger than he is.. I just had a friend of mine a couple years older than him recently have a stroke... and someone else I know my age had one last year.


Have him look up probate.. and the trouble and cost involved... maybe that will help convince him...

This is no small matter....particularly given both your ages....I personally knew people that have died from heart attacks or cancer when they were yourger than both of you.

And I'm not that much older than both of you now.

Right, so what should I do? We are closing tomorrow and the "Attorney said that I could be added back on the Deed at any time. That is why I wanted advise. I want him to know that he will not owe me 1/2 the value of the house and that he should be concerned about me having a home if something happens to him.

Right, so what should I do? We are closing tomorrow and the "Attorney said that I could be added back on the Deed at any time. That is why I wanted advise. I want him to know that he will not owe me 1/2 the value of the house and that he should be concerned about me having a home if something happens to him.

Try telling him half of nothing is still nothing... (assuming you are putting very little down)..

And its all about equity... not that actual sale price...

If there was a divorece... most if not all of the sale price would go right to the bank because of their lien... only equity gets split (or the negative equity(I.E. Debt) if it's a negative number)... and in a divorce... you would probibly get awarded 1/2 of that in many places buying right before the marriage... All you'd have to do is show pooled assets and bills.

If he died you'd have to deal with probate and it might get ugly if he left it in a will to someone else.

If he owned this for like 20+ years and its all but paid off before the marriage... you would not have much of a claim on it other than if he leaves it in a will.

Also its more complicated than simply putting your name on it... but HOW your name goes on it. Like Tenents in common... rights of survivorship... etc...

First, the lender is unlikely to approve a mortgage where ALL titleholders are not signed. And, if you are added to the deed after the mortgage is final, this could trigger a due on sale clause, though that would be unlikely if you were added as a spouse.

Second, who is putting the down payment? Are you sharing it or is he? If he is, then have the attorney draw up a contract stating that any funds he contributes towards the purchase of the house will be taken off the top of any sale. This effectively gives you a sharer only of the equity.

Try telling him half of nothing is still nothing....(assuming you are putting very little down)..

And its all about equity...not that actual sale price....

If there was a divorece...most if not all of the sale price would go right to the bank because of their lien....only equity gets split (or the negative equity(I.E. Debt) if its a negative number)....and in a divorce....you would probibly get awarded 1/2 of that in many places buying right before the marriage...All you'd have to do is show pooled assets and bills.

If he died you'd have to deal with probate and it might get ugly if he left it in a will to someone else.

If he owned this for like 20+ years and its all but paid off before the marriage.....you would not have much of a claim on it other than if he leaves it in a will.

Also its more complicated than simply putting your name on it...but HOW your name goes on it. Like Tenents in common....rights of survivorship...etc....

Thank you so much for your replies. You have been most helpful. I just want to be able to tell him that he WOULD NOT owe me 1/2 of the value! Since we split everything and no one would deny that, he would only (in an ideal world) owe me 1/2 the equity. Have a great Easter weekend!

If you are closing tomorrow, it's too late to add you to the mortgage, and the lender probably won't let you be on the deed (they 'own' most of the house).
You are very naïve about all of this, saying such things as you will never get divorced. It isn't up to you if he wants to. It isn't up to you if he dies. And so on.
Since you are going to be paying half, make sure you he does his will ASAP and make sure you keep records of every payment you make for anything to do with the house.

If you are closing tomorrow, it's too late to add you to the mortgage, and the lender probably won't let you be on the deed (they 'own' most of the house).
You are very naive about all of this, saying such things as you will never get divorced. It isn't up to you if he wants to. It isn't up to you if he dies. And so on.
Since you are going to be paying half, make sure you he does his will ASAP and make sure you keep records of every payment you make for anything to do with the house.

That is exactly what I will do. Thank you!

We do not maintain separate assets (checking, savings, etc. are together). The question still remains: We buy the house now (not married), his name on mortgage, both our names on the Deed. We are getting married in two months. If we eventually divorce, would he owe me half the value of the house or half the equity?

The answer is 1/2 of the equity. That is value above the mortgage.

The answer is 1/2 of the equity. That is value above the mortgage.

I told my fiancé what you said (and what my mortgage officer said) and he is now a little embarrassed at what he thought. All he can talk about now is how to get my name back on the Deed, buy home life insurance and get a Will. Too funny. He thought he would have to pay me 1/2 the value of the house and still keep the mortgage. He is eating crowe about now. Thanks for all your help!

... but if you bought it AFTER you got married...name on the deed or not...it would be different, most places would consider that community property. ...

A minority of nine states (not "most") are community property states. I'm not sure if you are trying to suggest that the other 41 are in the minority of "places".

http://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Community_property_states.svg/220px-Community_property_states.svg.png
Community property - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/Community_property)

A minority of nine states (not "most") are community property states. I'm not sure if you are trying to suggest that the other 41 are in the minority of "places".

http://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Community_property_states.svg/220px-Community_property_states.svg.png
Community property - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/Community_property)
Ah yes... I incorrectly used that term.. I should have actually used marital assets..