Pros and Cons of Having my Wife Sign the Deed with me?

[Tom Lipps]

Hi BP Community!

Can't thank you all enough. I'm in the process of buying my first Duplex in Cincinnati, OH and I've had many questions and the BP community has already proven invaluable for helping me make smart decisions for my first purchase!

I'm married but all the loan approvals and everything  in general has been in my name only. My original plan was to have the house in my name only. Not that I'm worried about  divorce down the road or anything like that.

Any advice on the Pros and Cons of having your spouse on the deed vs only you signing?

[Jerry Wamsley]

Avoiding probate if you were to die.  Ohio is a community property state anyway, she has 1/2 interest unless she signs a quit claim deed.  Other reasons would be borrowing power, my opinion is to keep loans in one or another person's name.  Why do a joint loan when yo could miss out on another property or create more paperwork when making your next real estate purchase.  I also suggest speaking with a real estate attorney or attorney to plan accordingly .