Washington, DC asked in Real Estate Law for Maryland

Q: In MD can I be on a sale contract for a home if I’m not taking out the mortgage or can I only be on the deed and title?

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2 Lawyer Answers
Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Crownsville, MD
  • Licensed in Maryland

A: The sales contract will usually match the deed. In other words, whoever is going to acquire the property should be identified. Sometimes acontract purchaser will just list their name "and/or assigns" as buyer so they can assign their interest to someone else. But typically if 2 people are acquiring property they typically will both be listed as buyers.

It is up to the lender to decide who qualifies for the loan. Most of the time all the owners will be borrowers, although occasionally not. If one of the owners is not going to be a borrower the lender will certainly still require that all owners sign off on the mortgage.

Without context it is difficult to know why a buyer would not want to be identified on a sales contract or why only one owner intends to be on the mortgage. The above only offers general information. If you have questions about a specific real estate transaction you are encouraged to seek legal advice.

Richard Sternberg
Richard Sternberg
Answered
  • Potomac, MD
  • Licensed in Maryland

A: You almost certainly should be named in the sales contract if you will be on the deed unless the sales contract contains a provision for transferring or adding you. The deed should match the contract, and sometimes, it doesn't matter if it doesn't match the mortgage.

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