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    Nich79's Avatar
    Nich79 Posts: 2, Reputation: 1
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    #1

    Jul 8, 2009, 02:37 PM
    Adding person to deed/mortgage, hurt my score?
    I want to add my girlfriend to my deed/mortgage of my house and have a basic idea on how to do it based on researching the matter. My question here is this: She has poor credit and owes medical bills. If I add her to my deed/mortgage can the collectors come after me or my house? I worked hard to be able to purchase a house and do not want anything to jeopardize my home. Also, if we get married, can collectors come after me to pay her debts? I live in the state of Florida.

    Thanks for your help.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jul 8, 2009, 03:09 PM

    If you add her to your deed, you are, essentially, selling her a share in your house. She will then become a part owner. While this will not affect your credit, it may open your asset to her creditors.

    If she doesn't purchase this share from you, it then becomes a gift that may incur a tax liability on your part. Also to consider is that any change in ownership may trigger the due on sale clause in your mortgage.

    If you wait until you are married, the some of this goes away. You will not be responsible for her premarital debts, but if she becomes a joint owner of any of your assets, then her creditors can go after the entire asset.
    Nich79's Avatar
    Nich79 Posts: 2, Reputation: 1
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    #3

    Jul 8, 2009, 04:35 PM

    Thank you for your quick response! I don't understand however, how a creditor could come after something that also belongs to me, that would be penalyzing me for someone else's mistakes. And I have great credit and have always paid my debts on time. How can they come after my home and potentially leave me homeless?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jul 8, 2009, 05:34 PM

    Because its no longer ONLY your home. It is now your home and HER home. You are making her a part owner. A creditor can legally go after any asset she is listed as owner on.

    You may not think it fair, but that's the law.
    LA1949's Avatar
    LA1949 Posts: 1, Reputation: 1
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    #5

    Feb 2, 2010, 07:53 AM
    I want to add my daughter to my mortgage she is now living with me. With her 2 children and is paying half of the mortgage I would like her to be able to claim half of the interest on her tax returns how can I do this
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