Posted on: 22nd Jan, 2010 07:40 am
my son has bad credit and couldnt get house in his name. i bought the house in my name and he has always made payment. its been 3 years. now can i quit deed it to him so if anything happens to me being of advanced age the house will go to him. he will continue to pay the moetage
hi marie,
welcome to the forum. you can use the quit claim deed to transfer your ownership interest in the house to your son. you may consider using the quit claim to deed the house to your son and yourself in joint tenancy with rights of survivorship, which would transfer your portion of ownership in the house to your son in the event of your death, and vice versa in the event of his death. please check the guidelines in your state for correct language and signing instructions to insure the deed is properly executed and recorded with your county clerk of court.
welcome to the forum. you can use the quit claim deed to transfer your ownership interest in the house to your son. you may consider using the quit claim to deed the house to your son and yourself in joint tenancy with rights of survivorship, which would transfer your portion of ownership in the house to your son in the event of your death, and vice versa in the event of his death. please check the guidelines in your state for correct language and signing instructions to insure the deed is properly executed and recorded with your county clerk of court.