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Mortgage Community Forums | Deeds, Property Transfer and Estate Planning | transfer ownership

transfer ownership

Posted on: 12th Jan, 2009 11:00 pm
my parents have a mortgage on a duplex. they do not live in it, they want me to take over payments and be the sole owner. that is what i wish too.. i also have been living in the duplex for several years now. how do we tranfer the mortgage into my name so that i have sole responsibility to make payments?
hi michael,

you can ask your parents to sign a quitclaim deed in your name which will transfer the property to you. once this is done, you can refinance the loan in your name. this will give you the sole responsibility to make payments.

thanks.
Niicss
Posted on: 13th Jan, 2009 02:44 am
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