Declared six years ago before marriage, now we're buying new home. I have questions!

[KrisMM]

Hello everyone

I am new here, and looking for advice. I made some mistakes with money and credit cards in college, and as a result filed for bankruptcy in 2004. I met my now husband in 2006, and we married in 2008. He owned a home before we met, and we just never got around to adding my name to the deed. Now we are moving and he wants to buy the home in his name only because of my bankruptcy. I share his concerns about my bankruptcy hurting us. He has great credit. However, I think it has been long enough that it won't hurt us as bad as he thinks. I have been in good standing with everything post-bankruptcy. I feel it is my right to be on the deed of the home, as I am his wife after all. But I don't want my bankruptcy to hurt us, either. Thoughts??

[despritfreya]

If having your name on the deed from day 1 (hence you are also on the loan) makes it difficult to get financing there is nothing stopping your husband from quit claiming a 1/2 interest in the property to you once it has been purchased. Depending upon how you want the title to read, title would then be either "joint with right of survivorship", "tenants by the entirety" or, if you are in a community property state, "community property"

[ramirezhenry]

I think the title would also state that he is married and your name mentioned in the title as well hence; you are also co-owner; a house is a conjugal property.

[Floridagail]

We tried that in our county and it was very expensive, they said the recording fees and taxes were over 3000 to put me on title.

[despritfreya]

We tried that in our county and it was very expensive, they said the recording fees and taxes were over 3000 to put me on title.

WHAT! You have got to be kidding. $3,000.00 for a simple piece of paper called a "quit claim deed". You can pick up the form at Staples, fill it out (copy legal description off of the deed) and record it.

The only thing I can think of is that the State of Florida has a "transfer tax". There must be a Floridian on this fourm who can shed light on this matter.

I my State the total cost would be $10.00 plus the cost of the form from Staples.

Des.

[tobee43]

We tried that in our county and it was very expensive, they said the recording fees and taxes were over 3000 to put me on title.

really floridagail??? that much to do quit claim?..i don't think they have to put it on the title ...just record the actual quit claim in the county. we have done similar in the past here in florida, not on this property, but another...and it didn't cost but the atty's fees ...which were reasonable...(well under 500) and then her office filed on the documents of record with the county.

[Floridagail]

Yep some taxes added to recording fees, the clerk told us it was like buying the house over. she gave us the papers and we did not go thru with it. We are in polk county..Florida.

[AngelinaCat]

Here is the link to the Polk County Clerk of Court's webpage, which is the county in which Lakeland is located:

http://www.polkcountyclerk.net/

Scroll down the column on the left-hand side of the page and click on 'Service Fees', and you will open a PDF document that contains all the various fees charged in Polk County. They look to be in line with what our county charge.

[Floridagail]

In 2005 we bought our house in my BF name as I was unemp. We went down in jan 2006 to add me quick claim as I was worried if something happen to him I would have problem with house. They gave us the papers I wish i could remember the exact about
but it was over 3000 I am sure. We were shocked at the time as our broker had told us we could put me on title later after purchase of house.

[Floridagail]

Thanks for the link, I will check it out maybe we were given incorrect info, but too late now.

[AngelinaCat]

In 2005 we bought our house in my BF name as I was unemp. We went down in jan 2006 to add me quick claim as I was worried if something happen to him I would have problem with house. They gave us the papers I wish i could remember the exact about
but it was over 3000 I am sure. We were shocked at the time as our broker had told us we could put me on title later after purchase of house.

Go back and try again. That was in 2006. There were some 'Impact Fees' and other things in play then, that may have been repealed since then.

[Floridagail]

I just called the polk county clerk, This is how florida works ,( according to the dept of revenue of florida) I will pay .70 on every 100.00 for value of mortgage to the state as I will now be on the mortgage. So If I am being added to our mortgage I become responsible for 1/2 of mortgage. So the mortgage is 250000, I pay .70 x every 100.00 of my half.125000. plus rest of fees to which she estimate about 1000.00. ( she said the girl must of quoted us based on the whole mortgage back them which was wrong) This is in florida , may not be same in other states. Wow still too much...Just another way for florida to get more taxes.

[tobee43]

I just called the polk county clerk, This is how florida works ,( according to the dept of revenue of florida) I will pay .70 on every 100.00 for value of mortgage to the state as I will now be on the mortgage. So If I am being added to our mortgage I become responsible for 1/2 of mortgage. So the mortgage is 250000, I pay .70 x every 100.00 of my half.125000. plus rest of fees to which she estimate about 1000.00. ( she said the girl must of quoted us based on the whole mortgage back them which was wrong) This is in florida , may not be same in other states. Wow still too much...Just another way for florida to get more taxes.

how can they put you on the mortgage??? don't you have to re-apply with the bank...i really am very interested in how this can be done...since we may be doing something "similar" in the future if we can't get a mortgage...

we were under the understanding...or misunderstanding that we can't be on any mortgage or get any mortgage as yet.

the quit claim deed, is just that...it's not the mortgage, so i'm a bit confused? and did the clerk say 70 cents on every 100.00 on your HALF?? right?? what about just filing the deed itself?

i hear you about the florida fees..we about died when we went to registrar an out of state vehicle here...it cost us nearly 900 dollars. unreal! whomever thinks is cheaper here think twice!

[Floridagail]

how can they put you on the mortgage??? don't you have to re-apply with the bank...i really am very interested in how this can be done...since we may be doing something "similar" in the future if we can't get a mortgage...

we were under the understanding...or misunderstanding that we can't be on any mortgage or get any mortgage as yet.

the quit claim deed, is just that...it's not the mortgage, so i'm a bit confused? and did the clerk say 70 cents on every 100.00 on your HALF?? right?? what about just filing the deed itself?

Yes ,
she said because I will be on title , I am then responsible for the mortgage 1/2 , my half . So the state wants their money.
She started quoting me the rest of fees, I just became depressed and said so you figure how much to quick claim my name to mortgage she said , well , I said would 1000 do it she said yes. then I said i was quoted 3000 in 2006, then she said the clerk
must of figured the whole mortgage not just your half. I then said do other states do this. She said florida dept of Revenue controls this. This is florida.

i hear you about the florida fees..we about died when we went to registrar an out of state vehicle here...it cost us nearly 900 dollars. unreal! whomever thinks is cheaper here think twice!

I thought they did away with the big tax on cars.
Ga is terrible too, we considered moving to Ga, THey charge you for your tag based on the value of your car in Ga. every year you pay for it along with tag. SO that turned us off on ga, plus income tax there.

[tobee43]

I thought they did away with the big tax on cars.
Ga is terrible too, we considered moving to Ga, THey charge you for your tag based on the value of your car in Ga. every year you pay for it along with tag. SO that turned us off on ga, plus income tax there.

ok, so i think i have this...this is going to be for the NEW home right??? according to the OP....so i think was des was saying would apply..

des: .if having your name on the deed from day 1 (hence you are also on the loan) makes it difficult to get financing there is nothing stopping your husband from quit claiming a 1/2 interest in the property to you once it has been purchased.

that's what i think i would do??? you think in flordia that would work..i thought so??? but i KEEP forgetting where i am!! LOL!!!!