Posted on: 23rd May, 2011 08:11 pm
I own a condo free and clear in WA state. I would like to sell it to a friend but she can't qualify for a loan and I can't rent it to her due to condo rules. How can I get her name on the deed? Can we be co-owners? Should I hold the contract? What is the best thing to do to get her name on the deed?
Hi djt,
You and your friend can become co-owners of the property. You can sign a quitclaim deed and add your friend's name on the property deed. This will make her the co-owner of the property. You can contact a real estate attorney for the same and he/she will guide you further in this matter.
Thanks
You and your friend can become co-owners of the property. You can sign a quitclaim deed and add your friend's name on the property deed. This will make her the co-owner of the property. You can contact a real estate attorney for the same and he/she will guide you further in this matter.
Thanks
djt, if you grant ownership rights to your friend, you'd better be sure this is a bosom buddy. You could have your attorney draw up a contract for the two of you, stipulating how your friend would pay you - monthly, etc.
By all means, you need to consult with an attorney to ensure that you don't end up going down the wrong path on this.
By all means, you need to consult with an attorney to ensure that you don't end up going down the wrong path on this.
