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Real Estate
Reply to "Married couple buy a house, only one is on the title. Why?"
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[quote=Anonymous]Some PPs got mortgage and title confused. If one spouse has a bad credit score, it may make sense if only the other spouse takes out the mortgage, that is: is liable for the loan. But that does not prevent the spouse with the lousy credit score to be on the title. In fact, for a married couple this is the smart thing to do. With both spouses on the title you have a "joint tenancy". Should one of you die, the other automatically gets the to be the only owner of the house. The share of the deceased does not go through probate but "dissolves". Also, in case there will ever be a divorce, you will want to be on the title. Foreign citizens can be on the title. If they qualify for a mortgage depends on the circumstances. But they still can be on the title, of course.[/quote]
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