Posted on: 26th Feb, 2009 01:55 pm
Our daughter has a deed of trust in first position on a piece of property. She owes us money and wants to give us her interest in this property. What do we use to transfer her position to ours?
Hi Linda,
Since there's a deed of trust on the property, if you want to get the title in your name you need to add yourself to the loan as well. With the lender's permission, she can transfer her share of interest in the property to you and then you can get it refinanced in your name or once the property is quitclaimed, you can rquest the lender to change the name on the loan.
Since there's a deed of trust on the property, if you want to get the title in your name you need to add yourself to the loan as well. With the lender's permission, she can transfer her share of interest in the property to you and then you can get it refinanced in your name or once the property is quitclaimed, you can rquest the lender to change the name on the loan.