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Who can be included in the title? |
I am an immigrant worker in Texas with a job that has very real prospects of relocation say in the next 3 yrs. I'm planning to purchase a house but I'm concerned about the risk involved if I was suddenly relocated. So my question is can I include a relative, who is a permanent Texas resident or US citizen in the title even if they are not in the mortgage loan? - then I won't have to worry losing substantial sums by selling the house later at devalued price just to get my investment back hurriedly? you can quit claim anyone you want onto the title once the loan is done, however if you were deported per se, and the loan defaults, the mortgage company remains the lien holder and retains the right to foreclose, however if this U.S. citizen will make the payment. Also review your mortgage note, because texas has different laws in regards to the homestead laws. In AZ I know that you can add anyone but if Texas' homestead law says different well. yeah. instead of a relative, just rent out the house if you have to leave hurriedly. During the purchase process the lender will require anyone whose name is on the deed to be on the loan. |
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