House question

[applecider]

I have kind of a weird question...our house is in my DPs name. We are not married. He owes more than it is worth. If he were to die, what would happen to the house? Would it go back to the bank? Would I have the option to buy it? Just wondering...

[Oceanone]

Does your DP have a will?

Would you want to take over the mortgage on this house? In the near future, if the house is worth less than the mortgage, it might be an unnecessary burden.

[SleeplessMommy]

Assuming you name is not on the mortgage either, you would have no claim to the house. Your kids might "inherit" it, but it might make so much more sense to walk away. Once a person is deceased, their credit rating no longer matters, so there is no harm in dropping the house.

It would be a good idea to consult and estate planning attorney, as I can see the situation getting complicated, in the event of a tragedy.

[JessBB]

If your DP has a will that he has made at any time, the house will go according to that. If not, it will go according to the intestacy laws of your state. *Usually* it goes children, then parents, then siblings. That's bio kids, not steps unless they're legally adopted. YOU HAVE NO LEGAL CLAIM TO THAT HOUSE. Yes, I am yelling. Get on the title or make sure your dp has a will if you want the house. Do it yesterday.