What if spouse is not on mortgage?
If you are not on the mortgage, your spouse who is on the mortgage can borrow against the equity in your home without your consent or knowledge. If you are not on the title, your spouse who is on the title can sell the property without your consent.
What does it mean if your name is on the title of a house?
Title is the legal way of saying you own a right to something. For real estate purposes, title refers to ownership of the property, meaning that you have the rights to use that property. It may be a partial interest in the property or it may be the full. The transfers can be less than the title that you actually have.
Whats the difference between title and deed?
A deed is evidence of a specific event of transferring the title of the property from one person to another. A title is the legal right to use and modify the property how you see fit, or transfer interest or any portion that you own to others via a deed. A deed represents the right of the owner to claim the property.
How do thieves steal your home title?
Title theft or deed fraud occurs when someone obtains the title of a property, usually by stealing the owner’s identity and recording a forged deed to change ownership of the property’s title. The fraudster can then sell or borrow against that property.