Is your home jointly owned or just one one name? Why?

amother

Hotpink

Sun, Sep 01 2019, 2:07 pm

we jointly own our home and paid off out mortgage
all his earnings are in his own accounts
im a sahm

amother

Silver

Sun, Sep 01 2019, 2:10 pm

Joint because we both want the safety and security.

s c

Sun, Sep 01 2019, 2:18 pm

Joint bank account and joint house owners. (Dh has always earned 95% of our income)

shabbatiscoming

Sun, Sep 01 2019, 2:19 pm

Joint. Never thought of doing it any other way.

nchr

Sun, Sep 01 2019, 2:24 pm

Both own the home.
We have separate bank accounts though.

dancingqueen

Sun, Sep 01 2019, 2:25 pm

What would be a reason to not have both spouses as owners?

tigerwife

Sun, Sep 01 2019, 2:28 pm

dancingqueen wrote:

What would be a reason to not have both spouses as owners?

I’m not entirely sure if my home is owned solely by me or joint, but we bought when DH was a student and all the money and credit was under my name.

amother

Violet

Sun, Sep 01 2019, 2:39 pm

Can both spouses own the home if only one spouse is on the mortgage? In theory it's better to have 1 spouse on the mortgage if possible, since in the event something goes wrong, only one persons credit gets messed up as opposed to both spouses.

amother

Sun, Sep 01 2019, 2:40 pm

BH, both of us are secure having the home in our spouse's name. If it would be on just 1 name, it would be on mine, since its my income that is paying for it.
The only reason I was considering not to have joint is if chas v'shalom we run into financial trouble and our home is in danger, it shouldnt impact both of our credit. Don't think this is something that will happen, but I figured if there's nothing to gain by joint, why not go single?

amother

Silver

Sun, Sep 01 2019, 3:06 pm

amother [ Violet ] wrote:

Yes we have this due to income at the time of mortgage.

pesek zman

Sun, Sep 01 2019, 3:22 pm

Mine. I bought it when I was single. He never suggested putting his name on the deed and neither did I

amother

Fuchsia

Sun, Sep 01 2019, 4:57 pm

I own my house. My husband is a professional service provider - and though he has professional malpractice insurance should something go terribly wrong - our home is not an asset we want anyone to get their hands on.

tryinghard

Sun, Sep 01 2019, 6:46 pm

Just DH. When we first bought, the attorney messed it up, so I wasn’t on the deed, and when we refinanced we didn’t think about it, DH just took care of it. We keep saying we will add me on to it, just haven’t gotten around to it. Hopefully in the next couple months we will.

amother

Natural

Sun, Sep 01 2019, 7:21 pm

I am the owner of our home. My family gifted it to me.

amother

Salmon

Sun, Sep 01 2019, 7:49 pm

I wasn’t on mortgage but was on deed. when got a divorce, it was much easier for me to buy my own house bc I didn’t have a mortgage weighing me down.

chocolatecake

Sun, Sep 01 2019, 9:15 pm

We are both on the deed and the mortgage. We needed our combined income to qualify for the mortgage

amother

Fuchsia

Sun, Sep 01 2019, 9:20 pm

amother [ Salmon ] wrote:

I wasn’t on mortgage but was on deed. when got a divorce, it was much easier for me to buy my own house bc I didn’t have a mortgage weighing me down.

I don't follow this. the mortgage is lien on the home. If you own the home - the lien on home is your problem.

When you divorced - did you give your ex 100% title to your marital home?

amother

Denim

Sun, Sep 01 2019, 9:22 pm

It's on my parents name till we pay off the mortgage. But we have a legal document from an attorney that once it's payed off it goes over to my husband and I/ both of our names will be on the deed.

amother

Mustard

Sun, Sep 01 2019, 9:25 pm

We are both on the deed, but only DH is on the mortgage because he did all of the financial stuff based on his salary and I wasn't making much at the time. I made sure I was on the deed--I told DH it was important to me.