Posted on: 11th May, 2010 04:03 pm
i got married in dec. my wife and i both have houses. i am selling mine. and putting the money into remodeling hers. how do we put my name on her title and deed ? she does still have a small mortgage. can we do the quit claim deed without redoing the mortgage loan. and besides the mortgage, does the quit claim deed then mean we both own the house equally ?
Hi jackk,
Your wife will have to sign a quit claim deed and add your name to the property. Once she does so, both of you would become equal owners of the property. As far as the loan is concerned, the lender may ask both of you to refinance the mortgage after the property ownership is changed.
Thanks
Your wife will have to sign a quit claim deed and add your name to the property. Once she does so, both of you would become equal owners of the property. As far as the loan is concerned, the lender may ask both of you to refinance the mortgage after the property ownership is changed.
Thanks
Hi Jacckk,
You can tell your wife to sign a quitclaim and add you to the property. It is not mandate to re-finance the mortgage also in both of your name since your wife can make payments for the mortgage and in case she faces any financial crisis you can help her in repaying the loan.
You can tell your wife to sign a quitclaim and add you to the property. It is not mandate to re-finance the mortgage also in both of your name since your wife can make payments for the mortgage and in case she faces any financial crisis you can help her in repaying the loan.