How to add my name to the title of my husband’s SFHs in NC

5 Replies

My husband owns two SFHs in North Carolina. We would like to keep the loans in his name but add my name to the titles. Any recommendations on who we could contact to help us do this? This shouldn’t affect the loan, right?

Hello Tiffany

When my wife and I got married we added her name to the house I owned and that we live in and added my name to her home which we have been renting for 4 Years now. We just had to get a lawyer to file a quick deed claim for both properties with the name addition. The loan stayed the same with no change or issues. Hope this helps.

If there is a mortgage against the property you will need to consult with the bank. They have the right to call the loan due. Very unlikely but they have that right if the name on the deed changes. They may encourage you to re-fi and during the process you can change the names. 

Also if your going thru the trouble it's likely better to start and LLC and put that on the dead. You both can be 50/50 on the LLC. This takes your name off the property which is public knowledge. Disgruntled tenants can figure out who you are thru a few searches. It's good to have an LLC on there instead of your name. They can look up the LLC, but most don't know how.

@Tiffany Bishop You didn't explain why you wanted to add your name to the title. Depending on the answer to that question, you'll likely receive different recommendations to the discussion thread. In NC, the saying is "it takes one to buy, two to sell". A spouse can buy property on his/her own, but cannot sell without the other spouses's signature on the HUD/CD. It may not be necessary for you to take the trouble to QCD. I've never heard of a bank calling a note because of a QCD to add a spouse.

Thanks everyone!

I talked to the bank and it looks like adding my name to the title shouldn't affect the loan.

@Adam Schneider Here's our reasoning: My husband has a great w2 job, I stay at home with the kids.  We are currently buying properties in his name only and planning on going up to 10 conventional loans.  When he maxes out, unless I have gotten a job by then, we can't buy anymore.  His w2 job is good enough (and he enjoys it) that I don't need to get a job.  But if we add my name to the properties that he owns, then the income from those properties can count as my income in the future so that down the road we can buy more properties under just my name.  I think/hope I explained that correctly.  

You're thinking that you'll be able to show rental income and get qualified for a loan on that basis.  For income purposes your income tax statements are what will matter.  I don't think the names on the title will matter.  But this is something you should discuss with a lender before changing anything.

By the way, its "quit claim" not "quick claim".  That seems to be a common error.  You would want to discuss that with a real estate attorney.  Quit claim deeds are not as clean as warranty deeds for maintaining the chain of title.  When I've seen this done its usually with a warranty deed.  But any change of ownership may affect the exiting owner's title policy.

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