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Ownership Question

by Wayne
(New Hampshire)

I am buying a house in New Hampshire and paying the down payment and closing costs myself.

If my daughter-in-law's name is put on the mortgage, is she entitled to anything if I want to sell?


Hello Wayne,

Thank you for stopping by and asking your question. I enjoy sharing my brain with people like yourself.

If your daughter-in-law goes on the mortgage with you, she will no doubt be on the deed as well.

If she is on the deed with you, then she has a legal right to the property and would have to be agreeable to any sale of the property since she would have to sign off at the closing.

The only way I know of to avoid this issue would be if she was to quit claim her interest in the property to you before any sale were to take place.

Please keep in mind I cannot give legal advice and this idea may or may not work in your state. Each state has different laws.

You would have to consult a legal professional on how this may work in your behalf.

If this were to work and she did a quit claim to you, she would still be obligated on the mortgage however.

I hope this helps to answer your question.

Thanks for coming by,

Jeffrey Ragan

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Qualifying As A First Time Home Buyer

Hi, we are two sisters, one in California and one in NYC.

We are wondering if potentially being on the title of our parent's home in North Carolina would disqualify us from obtaining loans as first time home buyers when we go to purchase houses for ourselves?

They don't need us to get their loan and they do not need us to cosign, but we are both offering to give them some cash to help with the down payment, which is why they have offered to put us on the title.

We don't want to be on the title if it will disqualify us for getting the benefit of being first time home buyers ourselves. Again, we never plan to live there and we are not on the loan.

Thanks for your advice,

Two Sisters,


Hello There Two Sisters;

Thank you for placing your confidence in me and asking your questions. I hope you find my website helpful to you. I try very hard to help people in usual situations by getting them answers they need.

I have great news for you both. If you are not on the loan, there will be no record of you in the eyes of the lender that you have a vested interest in a house.

It's very commendable that you both want to help your parents, plus I admire your parents for offering to place you on title as security.

Actually it's probably best you are on title should anything ever happen to them. This may help keep the home out of probate court anyway. I'm not a legal professional so you would have to get professional opinion to know for sure. It varies from state to state how this all works.

So to answer your question forthright, this will not hurt either of you from qualifying as first time home buyers in the future.

I certainly hope you have found this helpful to you.


Jeffrey Ragan

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Should My Fiance' Be On The Title?

by Kim
(Windsor, CA)

I'm buying 50% interest in a home with my fiance' and she already had a 50% interest. I'll be borrowing from my annuity to purchase my 50% share outright. My fiancee's interest has been gifted to her by her father, however her name is not on the title yet. How can we protect her interest in the event of my death or vice-versa?

This is a mobile home so we have to notify the state of the title transfer and we'd like to know what the best way to handle this might be.

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Better To Seek Legal Advice
by: Jeffrey

Hello Kim,

Thank you for stopping by my website and asking your questions. What you're asking of me is outside of my field. You're looking for legal advice.

The best thing to do would be to contact a lawyer for an opinion or even a title company.

Sorry I cannot help much here.



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