AboutJim Root Expertise How to select the right Real Estate Salesperson & Loan Officer--ones who will serve your best interests! House-hunting tips & suggestions on selection of the home best for your family needs. Introduction to the Home Buying Process & all the "Players" involved.What is of utmost important to the Homebuyer? Real Estate Contracts & Negotiations, Appraisal needs, Title Co. involvement, Home Inspection issues& the Closing/Escrow systems, etc. Whatever your question, the answer will follow, whether from personal knowledge or research! Gale, shown here with me, has been a Real Estate Office Administrator, licensed Realtor & has served as my Research Assistant over the years!
Experience Over 30 years as a "Real Estate Professional." including Real Estate Marketing & Sales, Appraisal work, Mortgage Banking & as a Realty Officer with U.S Dept. of HUD's FHA Homeownership Division in Alaska, Washington & Idaho! Some experience in Montana, California, Utah & Nevada markets!Knowledge of National Markets by continuous Research!
Organizations Former member of Nat'l Ass'n of Realtors (NAR) & Mortgage Bankers Ass'n of America (MBAA). Currently with National Association of Review Appraisers & Mortgage Underwriters (NARA/MU).
Publications Published in various local, state, regional & national Real Estate-related magazines & newsletters!Co-author of various Govt. publications on Homeownership, Appraisals & Mortgages while with HUD/FHA.
Education/Credentials Associate Degree in Real Estate Studies plus:
Numerous Real Estate-related Courses conducted by the U. S. Government & Private Industry over the past 30 years.
Bachelors Degree in Mass Communications,
Masters Degree in Education/Teaching
Awards and Honors Professional Designations: Certified Residential Originator (CRO) from MBAA, Registered Mortgage Underwiter (RMU) & Certified Review Appraiser (CRA) from NARA/MU. Outstanding Peformance Awards for 10 of the 12 years with HUD/FHA & numerous Sales/Listing Awards while a licensed Real Estate Agent.
Past/Present Clients No longer selling/listing Real Estate, nor Appraising properties, nor working in the Mortgage business, this "Real Estate Pro" serves as Director of a Company that provides Professional Development Seminars & Workshops to the "Real Estate Industry" and provides free (as needed) & fee-paid (on a sliding scale) consulting & inspection services to members of the general public.Your questions will be answered without "salesmanship" & with your best interests in mind!
Question In massachusetts, is there a way to have more than the mortgagee listed on the title for ownership? for ex. if my girlfriend purchases a home and wishes for me to be the owner should something happen to her, can I be listed on the title even though I am not on the mortgage agreement?
Thank you
Answer
FOLLOW-ON: Sorry about the lack of timeliness in our response to your submission. It wasn't originally sent to Jim Root, but to another Expert who sent it to the QUESTION POOL. Jim just found it & thinking that you deserved a response, took it upon himself to reply.Thank you for your understanding; please continue using www.AllExperts.com
BRIAN--
Although I'm not familiar with the Real Estate Laws of the Commonwealth of Massachusetts,nor am I a licensed Attorney & authorized to give legal advice or opinion,I suspect that you CAN do what you've asked about. But I don't know for sure! You and your Girlfriend need to see a local Lawyer and/or a Title Officer from the Title Company that currently has her & the Property on a Title Insurance Policy! (She can find the Policy in with the Closing Papers that they gave her at "Close of Escrow")!
I'd go to the Title Company first,a Title Officer can probably tell you if this can be done or not. If not, you're "dead in the water," Brian and there's no need to spend money on an Attorney! If it can be done, you need a Lawyer!
For the record, I am not giving you legal advice or opinion; I strongly urge you to take the information I'm presenting as educational only, understanding that I cannot guarantee it; and that I am advising you to obtain proper legal counsel before taking any action on this matter.
Further, be aware that I, both as an individual and as a "Real Estate Professional" with over 30 years experience, DON'T recommend that a "significant other" (ie. Boyfriends, Girlfriends, Fiances, Unmarried Life Partners, etc) be given any ownership in their "partners" property! What happens if the unmarried "significant others" break, up? I've seen the results of the break-ups of many unmarried couples who purchased a home together--and the mess that they were in over "who gets what?"
If someone is added to the Deed of another to whom they are not married there-by becoming "1/2 Owner," there needs to be some binding,legal document outlining a method of handling the right of ownership should such a separation occur.(Marriage would create the needed paperwork, or if no marriage ,maybe a Will establishing you as getting the home when she passes, or a legal partnership that outlines the means by which to terminate the partnership and distribute the assets?--Check these ideas out with your Lawyer!)
Good luck, Brian: I'm NOT predicting a Break-up, my Friend,(In fact I'm wishing you nothing but the best)but I just needed to make sure that you and she are both "educated and aware" of the potentials of this matter!
