Property Title and Financing
#1
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Joined: Jun 2009
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From: Calgary

As a Uk citizen and temp foreign worker I am currently a non permanent resident of Canada. Can my name go on a property title in Alberta when the property is being bought by my Canadian common law partner?
#2
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Joined: Oct 2008
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UK residents can purchase property in Canada so there should be no reason you cannot be on title.
#3
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Joined: Jun 2009
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From: Calgary

I am not buying the property though, the mortgage is solely in my fiance's name. Do the banks take issue with that?
#4
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Why would you be on title unless you have an interest in the property? What was the reason for your question in the first place?
#5
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From: Calgary

I will be living in the property with my fiance. We didn't apply for a mortgage in both our names because i lost my job and don't have a strong credit history. The builders (it's a new build) put both of our names on the purchase agreement. My fiance wont be able to get to the house in time for signing for posession and so we are concerned that if the bank insists that my name be removed from the Title then I won't be able to handle the move in without my fiance being there to sign.
#6










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I will be living in the property with my fiance. We didn't apply for a mortgage in both our names because i lost my job and don't have a strong credit history. The builders (it's a new build) put both of our names on the purchase agreement. My fiance wont be able to get to the house in time for signing for posession and so we are concerned that if the bank insists that my name be removed from the Title then I won't be able to handle the move in without my fiance being there to sign.
#7
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From: Calgary

Thanks
#8
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I will be living in the property with my fiance. We didn't apply for a mortgage in both our names because i lost my job and don't have a strong credit history. The builders (it's a new build) put both of our names on the purchase agreement. My fiance wont be able to get to the house in time for signing for posession and so we are concerned that if the bank insists that my name be removed from the Title then I won't be able to handle the move in without my fiance being there to sign.
It is not complicated unless the bank needs your income for mortgage qualification.
#9
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Joined: Jun 2009
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From: Calgary

Thanks guys. Panic over... we will get the lawyer to draw up a power of attorney so that i can get the keys and do the move whilst my partner isn't here. That was all that mattered, I don't actually care about not being on the title
#10
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Well you seem to have it sorted. In Saskatchewan, and presumably Alberta too, the name(s) on the title and the name(s) on the mortgage have to be the same.
#11
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If a person on the title is not on the mortgage, the bank cannot enforce default proceedings therefore they will not lend without the party being on the mortgage - normally included as a guarantor rather than joint borrower.
#12
We had a similar circumstance when we bought our first place here - The Mrs wasn't working at the time, so for expediency's sake we applied for the mortgage in my name only which meant that the house had to be in my name only. When we refinanced last year we took the opportunity to add her name to the title of the house.
#13










Joined: Sep 2008
Posts: 12,830











We had a similar circumstance when we bought our first place here - The Mrs wasn't working at the time, so for expediency's sake we applied for the mortgage in my name only which meant that the house had to be in my name only. When we refinanced last year we took the opportunity to add her name to the title of the house.




