Tuesday, February 16, 2016

Will I still be the owner of the house in this situation?


My partner and I are looking to buy a home (in Florida), and he has good credit and I have a low credit (which I'm currently working on fixing). To get a loan, we would not be able to use both of our names due to my credit score, only his name. I've spoken to the person helping us with the loan, as well as with the realtor, about wanting both of our names on the property and they have both told me that my name would not be on the mortgage loan, but it could be put on the title. But I don't fully understand this. What is the difference between being on the mortgage and being on the title of the property? Who would be the true owner of the home? If we were to ever separate, would I have any rights to the home? Not that we're planning in separating, you just never know what can happen so I would rather be on the safe side. When we made an offer on a home a few days ago, only my partner we asked to sign the papers. Does this mean he would be the actual owner of the home?

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