Q: Me and my wife are buying a house my credit is not too good the loan is in her name they want me to sign a disclaimer
What does this mean for me do I lose all my real estate rights of this property in the event of a divorce. I'm the one making most of the payment.
A: A disclaimer deed is an important document. Use of a disclaimer deed is not unusual when only one spouse obtains the loan to purchase a home. However, in the event of a divorce, it is possible that your investment in this property could be lost. There is a way to prevent this from happening. Once the purchase is completed, it is possible to prepare and sign a new deed transferring title to both spouses. If this is of interest to you and your wife, you should discuss this with a real estate attorney once your home purchase is completed. Your attorney will learn the facts of your situation and advise you as to what may be most appropriate.
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