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    bequia89's Avatar
    bequia89 Posts: 1, Reputation: 1
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    #1

    Apr 18, 2012, 11:22 AM
    In New Jersey if you are on the mortgage are you required to be on the deed?
    In New Jersery, if a woman and fiancé both put money down on a house and both are on the mortgage, do both have to be on the deed? Can only one of the parties be on the deed even though both are on the mortgage?
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
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    #2

    Apr 18, 2012, 11:28 AM
    The deed work will typically be the same as the people who signed for the mortgage.

    You will need to speak to the folks at the closing company or title agent to confirm whether it's OK to have the deed in just one of the names.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Apr 18, 2012, 11:32 AM
    The lender will generally require that the mortgage signers be the title holders. However, they might not require all signers to hold title as long as all titleholders are signers. In other words if title is in the woman's name alone, the fiancé could sign the mortgage. However, the fiancé would be foolish to pay money for something he won't be listed as an owner of.

    Also, if the title is in the name of the woman and her former husband, the lender will not grant a loan unless all owners sign.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #4

    Apr 18, 2012, 01:35 PM
    Quote Originally Posted by ScottGem View Post
    ... if title is in the woman's name alone, the fiance could sign the mortgage. ...
    By "fiance" are you referring to the guy? As in: the only signer? No, that can't be right. The mortgage would't be worth the paper it's printed on.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Apr 18, 2012, 01:45 PM
    No, I meant both the woman and fiancée signing
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #6

    Apr 18, 2012, 05:48 PM
    The purpose for having a wife sign a mortgage on property in which she has no ownership interest is to protect the bank from a wife who later claims that her spousal rights somehow trump the bank's interest under the mortgage. Apparently the bank feels that a "fiance" who lives in the house with the owner might actually marry him, so perhaps they had her sign it for the same reason.
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