Does Alaska have common law marriage?
Alaska law does not recognize common law marriage (unless the common law marriage occurred in a different state where such marriages are recognized and the parties then moved to Alaska). An unmarried domestic partner of either sex may not have the same opportunity to a fair property settlement as a married person.
Does my spouse have to sign at closing?
Due to the vested interest of the non-titled spouse, your title company needs to figure out if the real estate transaction involves community property, and if it does, buyers and lenders will require the signature of your spouse on legal documents.
What happens if my spouse dies and my name is not on the mortgage?
Federal law prohibits enforcement of a due on sale clause in certain cases, such as where the transfer is to a relative upon the borrower’s death. Even if your name was not on the mortgage, once you receive title to the property and obtain lender consent, you may assume the existing loan.
Can a married couple buy a house in only one person name?
You can buy a house under one name, and most of the time couples do this because one partner’s credit is bad. However, there are advantages to joint mortgages. You should carefully consider the pros and cons of buying a house under only one partner’s name.
Can spouse be on title but not mortgage?
The names on the mortgage show who’s responsible for paying back the loan, while the title shows who owns the property. You can put your spouse on the title without putting them on the mortgage; this would mean that they share ownership of the home but aren’t legally responsible for making mortgage payments.
What happens if only one spouse is on mortgage?
The higher your income, and the lower your debts, the more house you can afford. If one spouse is going it alone on the mortgage application and they have high debts, they could have a harder time meeting a lender’s DTI requirements. Or they may qualify, but for a smaller loan amount than expected.
Can I be forced to sell my home in a divorce?
Yes. The court can make an order for the matrimonial home to be put on the market as part of the divorce settlement. The court will also be able to decide how any assets from the sale of the property should be divided up between the divorcing parties.
Can my ex sell the house without my permission?
You can only sell the house without consent from your spouse (this includes civil partnerships) if they are not joint owners. This means you can sell, rent out or re-mortgage the property, do pretty much anything with the property that you want, without having to have your spouse’s permission.
Can you sell a house if one partner refuses?
You may decide to sell your property without the consent of your spouse. If that includes a spouse who refuses to sign off on the sale, the transaction cannot close. This is why I won’t take a listing in a family law case with only one signature when both spouses are on title unless there are extenuating circumstances.
Does my ex have to pay half the mortgage?
Yes, your ex will have to pay half of the mortgage if they are listed on the mortgage as you will be both equally liable to the mortgage lender and in the case of the mortgage being defaulted then the mortgage lender will come after the both of you for the mortgage balance plus any costs.