Getting married he owns a house already?

Roxann
My boyfriend and I have talked about getting married, and I have a question about house ownership. If he already owns a house, how can I get on the deed to start contributing to the equity and build credit? Will we have to refinance or what? Thanks.

Olinda
Being on the deed will not help you build credit, no effect at all. You need to refinance and add your name to the mortgage to do that.You can contribute to equity no matter what, you help with the bills and you contribute, your name does not have to be on anything to effect that either.

Denisse
It depends on what state your in. I live in Minnesota, and when a couple gets married they both automatically own 1/2 the house regardless of who owned it before or for how long (unless there is a pre-nup). But if your talking about building credit and contributing to the equity, you would have to refinance your boyfriend's mortgage and get it in both your names. There would be about 3-4k in fees, and more than likely a higher interest rate, as you stated you are trying to build credit.

Tera
To gain equity/ownership, all he needs to do is add you to the deed as an equal owner. That process is simple and straightforward. However, if he is the only person on the mortgage loan, you won't be included in any 'credit building'. It's in his name and his only.In order to be included in credit building, you would need to refinance in both of your names.

Jeromy
He should use a "Quit Claim Deed" to deed it from himself to you and himself then record it in the Recorder of Deeds office at the courthouse in that county where the property is located. Any title company can do this for you if you need help. Also, in my state, it becomes partially yours anyway when you get married (Missouri) and he could not sell it without your signature. Ask the local title company.

Lia
you must refi in order to become a borrower so that it will effect your credit.He can add you to deed by issuing a quit claim deed but that will not impact credit.I would not recommend owning real estate with someone who is not a spouse. Until you both can commit to marriage do not commit to a real estate transaction. Talking about marriage is not the same as getting married.

Delora
You do not need to be on the deed, just leave it in his name. Why do you want it in your name? I simply do not follow your question here, and if this is his house then you can not gain any monetary equity or credits because he was the one that bought it in the first place, not you.

Ladonna
All you have to do is go to the county hall of records and put your name on the deed. The cost is small and it takes more time to stand in line than to do the paper work.

Avelina
add name to his mortgage and reap the benefits