It is possible to draw up a contract as an equal partner on the new purchase of a home without being on the title and loan application? What would be the pros and cons of such an arrangement?

You cannot dispose of any part of your interest in real estate without notifying the mortgage holder. If you do so your mortgage can become due and payable immediately.

If you want to be an equal partner then apply for a joint mortgage.

Ok maybe I didn't ask the question clear enough , I think that this is the best way to ask it...
Can you have a TIC (Tenacy in common) without being on the "official" documentation. More like a silent partner, but still have all the rights should you need to execute them? Rights would be 50/50.

Not really. You can do it but you would have a great deal of trouble enforcing it. In fact, it might not be enforceable at all.

Tell us more about your situation and we may be able to give you some options. For example, you and your partner could form an LLC, partnership or corporation and own the house that way. The company's governing documents would control the percentage of ownership and would be fully enforceable.

I recently was married. I am the only person currently on the deed. I want to add my husband to the deed. I do not want to add him to the mortgage. Do you see a problem with this?

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Originally Posted by motherinlaw

I recently was married. I am the only person currently on the deed. I want to add my husband to the deed. I do not want to add him to the mortgage. Do you see a problem with this?

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Yes, you cannot add someone to the deed without the permission of the mortgage company. If you do your mortgage can be called in and you can be forced to refinance.

This is a piggybacked question and should stand on its own.