Posted on: 13th Apr, 2006 02:48 pm
i have been living and paying the mortgage on one of my parents homes for 3 years now. i am just now starting to rebuild my credit after a bad divorce ruined it. my concern is that i want to be on the title of this home since i pay for it. what is the best/easiest way to accomplish this? would it be best to complete a deed to be added to title? if so, how do i do this, do i go to a title company or must i refinance under my name alone? i am currently not on the mortgage, just my parents are. i pay them by check every month and they submit to the mortgage company. please help.
thank you
thank you
hi jencor,
a quit claim deed can help you in the process of adding your name to the title or putting your name alone on it.
rhonda
a quit claim deed can help you in the process of adding your name to the title or putting your name alone on it.
rhonda
Thank you Rhonda :)
And finally, this quick claim deed....how do i go about this? Do i contact a title company , set up an appt and it goes through the title co only?
And finally, this quick claim deed....how do i go about this? Do i contact a title company , set up an appt and it goes through the title co only?
Hi Jencor,
You can add your name to the title of the property through a quit claim deed. A quit claim deed is a form to convey the interest of ownership in the real property. You can get a form from an office store or may get it online.
The form needs to be filled up and signed by the grantors and you as the grantee. Get the deed notarized to be effective for recordation. Then get the deed recorded at the county's recorder office.
But always involve an attorney in the process of the transfer and get his advice regarding the processing of the deed.
One thing to be mentioned here is that a quit claim deed will transfer the interest of ownership in the property but the mortgage will not be transferred. To transfer the mortgage in your name you need to refinance the mortgage.
Hope that clears your doubts.
Feel free to ask if you have more doubts.
You can add your name to the title of the property through a quit claim deed. A quit claim deed is a form to convey the interest of ownership in the real property. You can get a form from an office store or may get it online.
The form needs to be filled up and signed by the grantors and you as the grantee. Get the deed notarized to be effective for recordation. Then get the deed recorded at the county's recorder office.
But always involve an attorney in the process of the transfer and get his advice regarding the processing of the deed.
One thing to be mentioned here is that a quit claim deed will transfer the interest of ownership in the property but the mortgage will not be transferred. To transfer the mortgage in your name you need to refinance the mortgage.
Hope that clears your doubts.
Feel free to ask if you have more doubts.
Hi Jencor,
You may refer this section on quit claim deed for more detail if you want.
You can always get back here and post your queries. We will be happy to help you. :)
Blue
You may refer this section on quit claim deed for more detail if you want.
You can always get back here and post your queries. We will be happy to help you. :)
Blue
Jencor,
The transfer gets completed once the document is signed but no one would know of it until it gets recorded. So, getting the deed notarized and recording it is important.
The transfer gets completed once the document is signed but no one would know of it until it gets recorded. So, getting the deed notarized and recording it is important.
Thank you Blue!! Helps alot!!
Have a good one! ;)
Have a good one! ;)
After a legal mediation agreement, several parcels of land have been divided between me and my niece. I am receiving more land and therefore am paying her a fairly large sum of money. What type of deed is best and should the deeds indicate the sum of money she receives from me for the land or would that be recorded in another document? Thanks
Hi,
I think regarding creation of a deed, you must talk to a real estate attorney as he will will be the best person to guide you.
Yes, the deed must contain all the detail of the real estate deal.
I think regarding creation of a deed, you must talk to a real estate attorney as he will will be the best person to guide you.
Yes, the deed must contain all the detail of the real estate deal.
Hi,
Welcome to MortgageFit Forums.
I think the type of deed is not so important but what's important is the content of the deed which includes the description of the property and the names of the owners and the type of deal.
The different types of deeds are given below in brief to make you understand the difference.
A quit claim deed is used to transfer the ownership interests in the property of the previous owner without making a guarantee about the extent of interest. More common in case of divorcing couples it is particularly useful when the amount of interest in the property is not clear.
A grant deed is used to transfer ownership with a promise that title hasn't been transferred to someone else.
A warranty deed promises the grantor has good title to the property. You should always consult an attorney while preparing a deed and as Angel said that he is the best person to suggest and handle such matters.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
I think the type of deed is not so important but what's important is the content of the deed which includes the description of the property and the names of the owners and the type of deal.
The different types of deeds are given below in brief to make you understand the difference.
A quit claim deed is used to transfer the ownership interests in the property of the previous owner without making a guarantee about the extent of interest. More common in case of divorcing couples it is particularly useful when the amount of interest in the property is not clear.
A grant deed is used to transfer ownership with a promise that title hasn't been transferred to someone else.
A warranty deed promises the grantor has good title to the property. You should always consult an attorney while preparing a deed and as Angel said that he is the best person to suggest and handle such matters.
God bless you.
For MortgageFit,
Samantha
we are divorced i had to sign no quitclaim deed. Do I still have an interest in the property
Welcome Guest,
If you have signed the quitclaim deed and transferred the property to your spouse, then you won't have any rights over that property. If you haven't signed the property deed, then you will still have claims over that property.
If you have signed the quitclaim deed and transferred the property to your spouse, then you won't have any rights over that property. If you haven't signed the property deed, then you will still have claims over that property.