Posted on: 31st Jan, 2008 10:24 am
For both my son and his wife, and my wife and me, to have dual ownership on the title and deed of a properety in the Nashville area, what must I know and do when buying a rewsidence?
Tell the title company or attorney, whichever is applicable, what you are trying to accomplish. If you are getting a mortgage you will need to inform the lender.
Whichever way you are purchasing you can probably get whoever is handling your closing to help deed the property correctly. If you are doing a private cash deal... I would enlist the help of a real estate attorney.
Whichever way you are purchasing you can probably get whoever is handling your closing to help deed the property correctly. If you are doing a private cash deal... I would enlist the help of a real estate attorney.
Hi Drwab,
Welcome to the forums.
Having names on deed and title are one and the same thing. What I think is, you want to have 4 of your names on the deed and that is quite possible if you have the deed drafted properly.
Are you buying the home along with your son and his wife? What you need to do is, take help of a title company in doing a title search on whichever property you buy.
The title search will reveal whether there is any lien on the property which needs to be cleared to get clear title to the property. After that, take help of the title company or an attorney in drafting a warranty deed to chnage the title of ownership when you buy home. Make sure that the deed is signed by the notary and file it at the county recorder's office.
Take Care
Welcome to the forums.
Having names on deed and title are one and the same thing. What I think is, you want to have 4 of your names on the deed and that is quite possible if you have the deed drafted properly.
Are you buying the home along with your son and his wife? What you need to do is, take help of a title company in doing a title search on whichever property you buy.
The title search will reveal whether there is any lien on the property which needs to be cleared to get clear title to the property. After that, take help of the title company or an attorney in drafting a warranty deed to chnage the title of ownership when you buy home. Make sure that the deed is signed by the notary and file it at the county recorder's office.
Take Care
