If my wife is on the house loan and title deed then she can quit claim to put in both our names later correct?

Question

She is going on the bank loan, along with two co-signors who will NOT be on the title deed. So, my wife will be on the deed of trust for the loan along with cosignors, and then she will also be on the title deed solely. After closing, one bank has requirement for 30 day passing period before deed of title can be changed to quitclaim myself onto the title deed for the house. Does all this sound about right?

Answer 1

Yes, that sounds right. If your wife's loan papers say that she can change title on the house after 30 days, then that should be fine.

Some loan papers say that the loan company has to be informed when title to the home changes, and some even have to give permission. Your wife will need to read her loan papers carefully (especially the Deed of Trust) to see what rules apply in your case.

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Answer 2

Your wife will be on title with the 2 co-signers. That is usually a mortgage company requirement. You would have to get the approval of those 2 to add you. Which does not help you since there are now 4 owners instead of 3.

Normally you can add yourself to the title 1 hour after closing. Since she agreed to the 30 day period, you would be in breach if you don't wait 30 days.

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