Posted on: 13th Aug, 2009 06:06 am
My father owns the house we live in. We pay the mortgage etc. However we are not on the title or Mortgage. My dad wants to put us on the title and give us the house. What is the best way to do this?
Hi ej!
Welcome to forums!
Your father can add you to the title of the property with the help of a quitclaim deed. A real estate attorney can help your father in drafting a quitclaim deed. After the deed is filled in properly, it needs to be notarized and recorded at the county recorder's office.
If you want to add your name to the mortgage docs, then you will have to refinance the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your father can add you to the title of the property with the help of a quitclaim deed. A real estate attorney can help your father in drafting a quitclaim deed. After the deed is filled in properly, it needs to be notarized and recorded at the county recorder's office.
If you want to add your name to the mortgage docs, then you will have to refinance the loan.
Feel free to ask if you've further queries.
Sussane
Can he give me the house at no cost or at the same cost he owes?
quit claim is better option in your case
e-j, your Dad can "give" or "sell" the home to you in any way, shape or form that he desires to do. whether or not he makes a profit is up to him, really.
