Asked in Real Estate Law for Illinois

Q: Unmarried couple purchasing a house, both names to be on deed, one person's name on loan, any advice?

I am purchasing a house with my girlfriend. Both names will be on the deed but only my name is to be on the loan and at this point in time, she won't sign any other papers. Am I screwed if anything happens later and we break up?

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2 Lawyer Answers
Robert Shipley
Robert Shipley
PREMIUM
Answered
  • Chicago, IL
  • Licensed in Illinois

A: If only your name is on the mortgage, then you are the only individual obligated to pay that obligation. If title to the property is in both of your names, your girlfriend will remain in title (an owner) even though she is not a signatory to the mortgage. If there is a default on the mortgage, the lender would then be able to foreclose and assuming the lender was successful, take title to the property. My recommendation is that either both of your are on the deed and mortgage or if you are the only individual taking out the mortgage that title to the property (deed) only be in your name. You would always be free to add your girlfriend's name to the title in the future if that was your preference.

1 user found this answer helpful

James G. Ahlberg
James G. Ahlberg
Answered
  • Rochelle, IL
  • Licensed in Illinois

A: To put it gently, yes, you're screwed. Let me put it this way: This is such a bad idea that I'd refuse to do it for a client.

1 user found this answer helpful

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