Posted on: 22nd Sep, 2006 12:58 am
My grandmother's house was paid off until she took a loan out to build on. now there is a lien on it. she now wants to transfer it into my name in case something happens. what will be the easiest and best way to go about this and about what would it cost?
Hi Audrey,
To transfer your grandmother’s lien property in your name, you need to inform your lender that your grandmother is interested to transfer the property in your name.
If he agrees, then only you can transfer the property through grant deed.
Thanks
To transfer your grandmother’s lien property in your name, you need to inform your lender that your grandmother is interested to transfer the property in your name.
If he agrees, then only you can transfer the property through grant deed.
Thanks
Hi Audrey,
Your grandmother can only transfer the property to you if the lender agrees upon your liability to clear the lien. Or else, your grandmother has to clear the lien herself and then hand over the property to you.
If the lender agrees, your grandmother can use a grant deed for the transfer as this deed conveys property free of liens or defects in the title.
Thanks,
Sara.
Your grandmother can only transfer the property to you if the lender agrees upon your liability to clear the lien. Or else, your grandmother has to clear the lien herself and then hand over the property to you.
If the lender agrees, your grandmother can use a grant deed for the transfer as this deed conveys property free of liens or defects in the title.
Thanks,
Sara.
The cost will vary from one state to another. First of all, you need to pay the attorney for preparing the deed and then there are the fees for recording the deed at the County Recorder's office. The best thing is to ask the attorney dealing with such transfer or the officials at the County Recorder's office.