Posted on: 12th Aug, 2009 05:10 pm
My mom owns her own home but she needs my family to live with her as she is aging and shouldn't live alone. I can't up root my family without reassurance that the home we are living in can't be taken away should my mom fall ill. My mom does not want to give up ownership of her home, which I understand. Would a possible solution be to just add my name to the deed? That way, we both have ownership of the property.
team6sweeney
Wecoem to the forum
Check this out
http://www.mortgagefit.com/propertytransfer/deed-addname.html
Good luck and feel free to ask
Wecoem to the forum
Check this out
http://www.mortgagefit.com/propertytransfer/deed-addname.html
Good luck and feel free to ask
To sweeney,
Adding your name to the title could be a solution to the problem. This way she can retain her ownership and at the same time make you a co-owner of the property. Both of you can be listed on the deed as tenants in common. This will ensure that both your mom and you have an equal, undivided interest in the property. She can even add a life estate clause in the deed to make sure she can stay in the property as long as she lives.
Adding your name to the title could be a solution to the problem. This way she can retain her ownership and at the same time make you a co-owner of the property. Both of you can be listed on the deed as tenants in common. This will ensure that both your mom and you have an equal, undivided interest in the property. She can even add a life estate clause in the deed to make sure she can stay in the property as long as she lives.