Posted on: 19th Jan, 2011 02:05 pm
I live in a home purchased by my mom and dad. I now pay the mortgage which is in their name. What is the best way to get the house in my name without changing the mortgage. They have a will, but I don't want to have to pay inheritance tax. What to do?
hi lmlook!
welcome to forums!
you can ask your parents to sign a quitclaim deed and transfer the property to you. this will make you the owner of the property. however, once the property is transferred to you, the lender will want you to refinance the mortgage in your name.
feel free to ask if you've further queries.
sussane
welcome to forums!
you can ask your parents to sign a quitclaim deed and transfer the property to you. this will make you the owner of the property. however, once the property is transferred to you, the lender will want you to refinance the mortgage in your name.
feel free to ask if you've further queries.
sussane