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REFINANCING IN COMMUNITY STATES
In California, to refinance a property I owned before marriage, does my spouse need to sign?
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1 Reply
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In California, whether your spouse is required to sign a document to assist in refinancing a property that was owned by you before marriage is dependent on the following factors:
Property Ownership
If the property is only in your name and was purchased before the marriage, then that property is classified as your separate property. Thus, if the property does not include your spouse’s name on the title, it would be possible to refinance the home without your spouse’s signature.
Lender Requirements
Several lenders, including standard ones, will ask for both spouses’ signatures on some refinance documents, even if the property is owned solely by one of the spouses. This is frequently done so that all earnings and resources that the family owns are practically available to the lender.
Community Property Considerations
California is generally referred to as the community property state. When refinancing a property and increasing the property debt, the lender may require that the spouse sign to guarantee that the new obligation has been committed. This applies more when the consideration in question is a family home.
Adding Your Spouse to the Title
When refinancing the home and putting your spouse’s name into the title, they must be present when signing. It may also influence how that side property is owned and how the community property laws apply to the property.
Although lenders can allow you to refinance a property you own without your spouse’s signature before getting married, most may still request it. It is most prudent to check with your lender and even a real estate lawyer regarding your circumstances to ensure no irregularities.