Nowadays, domestic housing prices have remained high, which is not only for ordinary families, but also to owe the bank for decades of mortgages. Therefore, when buying a property, the names of the husband and wife are often written on the real estate certificate, so that there is corresponding property protection. However, some insiders said: It is not recommended to write the names of two people on the real estate certificate, and once the names of two people are written on the real estate certificate, the following 5 troubles will be encountered.
First, there are problems with home loans
If the name of the husband and wife is written on the title deed, the bank will conduct a comprehensive review of the income of both spouses when applying for a home loan. If one of the parties has a low income or has a bad credit problem, it will affect the bank's approval. At that point, either the bank will refuse the loan, or the bank will raise the mortgage interest rate accordingly.
Second, there is the issue of debt repayment.
If both spouses' names are written on the title deed. In the future, if one of the parties mortgages the house for various reasons, then the creditor can claim the property as the joint property of the husband and wife. In this way, the other spouse will be implicated. And if there is only one name on the title deed, if the party mortgages the house, the debt owed by the debtor has nothing to do with the other party. The other party does not have to bear the debts it owes.
Third, the issue of division of property
Nowadays, many couples, often one party pays all the purchase price, but the other party does not pay. If both spouses' names are written on the title deed, in case of divorce in the future, it will cause trouble for the subsequent division of property. If only the name of the contributing party is written on the title deed, then it is relatively simple for the husband and wife to dispose of their property in the event of divorce, that is, the property should be owned by the contributing party.
Fourth, you can't enjoy the discount of changing rooms
If both husband and wife are written on the real estate certificate, if they want to buy a new house in the future, or buy a larger house in exchange, they will not be considered the first home, and they will not enjoy the preferential interest rate of the first home loan. If only the name of one of the spouses is written on the real estate certificate, the party who does not have the name written can enjoy the preferential mortgage interest rate of the bank as the first home buyer in the future.
Fifth, it is more troublesome to go through the procedures for selling a house
If both spouses have their names written on the title deed, once the house is to be sold, both spouses must be present to sign the contract of sale, and if one of the spouses is unable to be present for business or other reasons, the contract for the sale of the house cannot be valid. And if only one of the spouses is written on the title deed, then only one person needs to sign it.
Of course, there are some drawbacks to the fact that only one of the spouses is written in the name of the husband and wife on the title deed: first, if only one person's name is written on the title deed, but the purchase of the house is jointly funded by the husband and wife. That can be a problem when selling the house or getting a divorce. At that time, both husband and wife must provide the proportion of their respective contributions and financial materials, otherwise the real estate transaction or property division cannot be carried out.
Second, if the husband and wife jointly fund the purchase of a house, and the title deed has only one person's name on it. Then, in case one of the parties dies suddenly and does not leave any will, there is a possibility that the issue of inheritance will be involved.
For example, Lao Sun is a second-married man who jointly funded a house with his wife as a marriage house when he got married, and only his wife's name was written on the real estate certificate. Soon after, Lao Sun died suddenly due to a car accident, so after Lao Sun's death, if there is no material to prove the contribution of the husband and wife, and in the absence of a will, the children born to him and his ex-wife will not be able to inherit Lao Sun's property.
Nowadays, many couples always like to add the names of two people when buying a house, so that they can prove that the two people jointly own the property. However, there are also the above 5 major drawbacks. Of course, if the title deed only writes the name of one of the spouses, there will be some problems. But in general, we still try to avoid writing the names of the husband and wife on the real estate certificate at the same time, so as to avoid unnecessary disputes and losses.