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Is sale possible if partner's daughter is named on deed?

Ilyce Glink
Inman News

Q: My life partner and I are buying a house. He wants to put his daughter's name on the deed instead of his own along with mine. If he predeceases me and I want to sell, could I sell without his daughter's permission?

She might want to keep the house, but I doubt she'd be able to afford it and then I would be responsible for making the payments. Also, if I want to buy another property while this house is not sold yet, would my credit be damaged from the unsold property?

A: The problem with unmarried partners buying property is that there can be a lot of misunderstandings about who wants to do what with the house down the line. You and your partner should have a partnership agreement that spells out the terms of ownership with the property. If the two of you are putting in equal amounts of cash for the down payment and will split the expenses of the property, then you and he should own it.

If he wants to leave his share of the property to his daughter after his death, then you will have a new partner. Your partnership agreement could spell out whether you have the right to buy out the daughter's share, and for how much money and under what terms. But if he leaves her his share or if he puts her on the deed, she becomes an owner of the property and you will not be able to dispose of or even refinance the property without her agreeing to such action.

Please talk to an estate attorney who is well versed in partnership agreements between unmarried partners before you sign on the dotted line.

Q: I remarried five years ago. I've owned my house for the last 14 years. My husband's last day at work will be Friday. I work, but my income is not going to be enough to pay for the mortgage, utilities, car payments and our other expenses.

My husband wants to stop paying the mortgage. He said the mortgage company can lower the interest rate or make other arrangements if we're late. If his name is not on the mortgage, can they work with us? My mortgage, with insurance and taxes included, is $1,149 a month.

A: If his name is not on the mortgage, then the mortgage company will not consider your husband's income when calculating whether you can afford what you're paying. But this could work in your favor.

Please contact your mortgage lender immediately to see if you qualify for an interest-rate reduction. If you've been paying your mortgage for 14 years, you probably have a significant amount of equity in your house. You may be able to qualify for a refinance on the remaining mortgage balance at today's historically low interest rates.

The important thing to know is that you do not need to be late paying on your mortgage to get help. You can also contact a HUD housing counselor or call 1-888-995-HOPE.

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