Should you add your spouse's name to the deed to your home?

TRANSCRIPT:

Attorney Tom Olsen: All right, Chrissy. Let's go to Ken in Orlando. Ken's got a real estate question. Ken, you're on the air, go ahead.
Ken: Good morning. I married a woman who owns a home. We want to put my name on the deed as well. Its mortgage is paid off. There is a home equity loan, or a line of credit on it. What's our best approach for doing that?
Attorney Tom Olsen: Ken, did you tell me that your wife is the sole person on the deed right now?
Ken: That's correct.
Attorney Tom Olsen: Okay. Ken, good news. To add your name to the deed to your home, hey, first of all, it's a good idea. Most married couples own everything jointly. There'll be no reason for you and your wife not to own this home jointly as well. The cost to prepare and record a deed, not that expensive, Ken. I am recommending that you have an attorney do it. Of course, we would love to do it for you here at the Olsen Law Group.
Ken, the good news is this, also. Normally, when you're doing a deed like this, you would have to pay the state of Florida documentary stamps for the privilege of transacting this business. When it is your home and when it is a deed between married couples, no doc stamps are due, Ken.
The good news is, to get this deed done for you, it's a little bit of attorneys' fees, a recording fee, you guys will done.
Ken: That's outstanding news. Any issue on the line of credit? Actually, my name is on the line of credit.
Attorney Tom Olsen: Ken, adding your name to the deed, your existing lender, first mortgage, line of credit, they don't care. This will not be an issue for them.
Ken: Excellent. Well, that's great news. Thanks for the advice.
Attorney Tom Olsen: Thank you, Ken. We would love to take care of you here at the Olson Law Group. We do this on a regular basis for people. Chrissy, when we're doing estate planning for people, often we find that for some reason the deed is in just the wife's name or just the husband's name. Then when we're doing estate planning for people, that's one of the issues that we always correct for them.
Attorney Chris Merrill: We do, and Tom, you're right. It is more often than you would think. You're correct. As part of the planning, as part of the documents that we do, we do the deed. We add the spouse. We also then take care of avoiding probate. We're doing multiple things for them in just that one instrument.

[cordychampan]

How do I avoid a transfer tax when adding my wife's name to the title

[alwaysinsearch]

My fiance and I are about to purchase a home. My fiance will be the only one on the mortgage. Is it better/easier for both names to be on the deed from the beginning or will it be more complicated/expensive to add me later?

[ps]

So, I have a question if anyone can please help me out...If a spouse for example is added to their house deed, can you receive a notice/letter asking the house owner why you added that spouse/individual?

[sunnnydaze]

Can you do deed documents for California? If so how can I contact you?

[Madmax]

I have a question for you my mother-in-law wanted to lower her payments on her home from 2100 to 1600 she lives in California and her husband lives in The Philippines. So she spoke to a lender and he said it was no problem to refinance the house with her husband not being in the United States so she refinanced it and put her son on deed because the bank said she did not make enough income so in order to refinance she had to put her son on the deed but lately things have gotten really bad between them so she told him to move he says he will not move because he’s on title and he owns half the house The husband is upset with the wife because she was not supposed to put anybody on deed without his permission he has forgiven her and told her to take her son off the deed because he has no right to be on the deed and the lender gave her bad advice that he should’ve known without the husband not being there or agreeing to it through legal means he could’ve never put her son on the deed is this true this is my question does this mean that son-has no legal right to be there House because he was never supposed to be on the deed to begin with

[mikew]

No need for an attorney! Just go to the county.

[basemasaedi]

Can my husband add my to the deed, we live in Florida and is it expensive, the mortgage is paid off, and can I do it with out attorney

[teresavict]

Can the mortgage company denied me adding my husband to the deed.? They told me the only way is through refinancing which I find hard to believe.