![]() Yes Consensual liens have priority over homestead. Yes – However, if lender is looking to community property, such as wages or salary of the borrower spouse, for repayment of a mortgage loan, the non-borrower spouse must execute a marital community joinder to legally bind the marital community to the repayment of the mortgage loan. Yes, called a “Waiver of Homestead Rights” However, for title purposes only the spouse(s) vested in title need sign the documents. Yes In 1998 AK passed a unique Community Property Act, under which spouse may opt-in to creation of a community property estate. ![]() ![]() Be mindful of these additional requirements.Įssentially all non borrowing spouses must sign throughout the nation unless the subject property is in a state that is a common law jurisdiction without applicable homestead exemptions.īelow is a chart with a state by state breakdown: However, many states h ave additional requirements for property that is homestead (owner occupied). (iii) If the state is a common law jurisdiction (what’s her’s is her’s, what’s his is his), both parties do not need to sign documents. (ii) If the state retains dower or curtesy rights (rights in estate of husband/wife), both husband and wife must execute documents (mortgage, rescission and TIL). (i) If the state is a community property state (property is owned in common by husband and wife), then both husband and wife must sign documents (mortgage, rescission and TIL). First off some general rules if both husband and wife appear on title, both must sign documents (mortgage, rescission and TIL) If only one spouse is on title to property being mortgaged, the following applies: This post can now be a reference for all you multi-state lenders. We constantly get questions on whether or not a non titled spouse needs to sign on the mortgage documents so figured its the perfect topic for a post. *** This post was recently updated in 2017 and can be obtained here.
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