Susan:

I would be very uncomfortable with what your fiance is suggesting. Putting his name on the deed is a permanent solution to a temporary issue. If by some chance the relationship does not proceed to marriage, that will be a problem.

New York is a mortgage state, which means that a Promissory Note and Mortgage is the appropriate way to handle this loan.

The best advice I can give is that it is prudent to separate the loan issue from the relationship issue. Use the same formalities for the loan (which would entail a promissory note and mortgage) as you would if you were borrowing from someone else.

It is much easier later to add his name to title and to cancel the debt, if that is what you chose to do once you are married, then it is to find a way to force him to transfer back a 1/2 interest in the property.

I hope this has helped. Let me know if you have any followup questions. If none, please remember to click on the ACCEPT link so that I may receive credit for working on this topic with you. (I’d greatly appreciate it!)

Thank you,
Dan
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The information provided is general in nature only and should not be construed as legal advice or to create an attorney-client relationship. You should always consult with a lawyer in your state.
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