There are some complications that can occur where there is more than one owner listed on a deed.
It will depend on the precise wording and the laws in your state.
With a title held in joint tenancy, neither party can sell the house without the permission of the other. This is the most used type of multi person title. This assures that if one party passes away, the other has rights to the house as the survivor. It must be listed as joint tenants with rights of survivorship. While both parties are alive, one cannot sell the house without the permission of the other.
If the house is held by tenants in common then it’s more complex and can be rather messy. That’s because one can sell their interest in the house without permission of the other. The interesting part here is that because there are two people listed on the deed, one of the tenants in common can sell half of the house to someone else. That means the other half of the house is still owned by the original other tenant in common. It’s hard to imagine a buyer that would purchase a house in which they were to own only half.
Where there is one person’s name on the deed, but two are listed on the mortgage loan, the one on the deed has every right to sell the house. The mortgage can be paid off by the person on the deed that sells the house. The mortgage loan is only an indicator of who is responsible for taking out the loan and who must pay it back.
Some states still have an old fashioned law on the books called the ‘dower rights.’ This refers to a situation where a man has purchased a home before marriage. When he marries and still is the owner of the house, the wife has the rights to the house as well. If he wants to sell the house, he will need her signature on the deed when it is sold.
These situations are important where there is a separation or divorce and the couple owns a house. Whatever the arrangement you have listed on your deed is what you will have to deal with when your relationship breaks up. If you can get your spouse to sign a quit claim deed you will then have the sole responsibility for paying the mortgage and you will be able to sell the house without the permission of the other. If not, you will both have to agree to sell the house and both must sign the deed for closing.
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