Posted on: 02nd Sep, 2008 04:19 pm
My mother in law is renting her home to my husband and I.We all want it to be turned over to me & my husbands name.We currently pay her $750 a month and want to continue paying just that.We also have very poor credit so we are unable to get a mortgage or a loan.We are trying to find out how to accomplish all of this without a lawyer. PLEASE Help!
hello- you can use a quit claim deed to transfer the title of the property out of her name and into yours. however, if she does not own the property free and clear, she'll probably be in violation of the terms of her mortgage note's deed of trust and the if that lender finds out they could call the note due. something to be aware of.