Posted on: 21st Jun, 2007 01:55 pm
can you tell me if your parents want to add you to the deed - either transfer ownership fully or just add me as another individual who is legally responsible for the property - is a quit claim deed the way to go?
Hi Julia,
Welcome to Mortgagefit forum.
Yes in both situations a quit claim deed can be used. It can be used for transfer of complete or part interest in property to someone else.
Colin
Welcome to Mortgagefit forum.
Yes in both situations a quit claim deed can be used. It can be used for transfer of complete or part interest in property to someone else.
Colin
"Can you tell me if your parents want to add you to the deed - either transfer ownership fully or just add me as another individual who is legally responsible for the property - is a quit claim deed the way to go?"
However, if there is a mortgage then before the property transfer is done it would be better if the lender is informed about it as there will be a change in the way title is held from the time loan was taken.
However, if there is a mortgage then before the property transfer is done it would be better if the lender is informed about it as there will be a change in the way title is held from the time loan was taken.
Hi Julia,
Welcome to Mortgagefit discussion board.
As others have stated, use of quit claim deed is quite common if someone is to be added to the title of the house. Quit claim deeds are frequently used in inter-family transfer of property interest.
If you would like to get more information about how quit claim deeds are used for property transfer then please go through this page: Transferring property-interest through Quit Claim Deed.
Do let me know if you have any other questions.
Thanks
Blue
Welcome to Mortgagefit discussion board.
As others have stated, use of quit claim deed is quite common if someone is to be added to the title of the house. Quit claim deeds are frequently used in inter-family transfer of property interest.
If you would like to get more information about how quit claim deeds are used for property transfer then please go through this page: Transferring property-interest through Quit Claim Deed.
Do let me know if you have any other questions.
Thanks
Blue
"Can you tell me if your parents want to add you to the deed - either transfer ownership fully or just add me as another individual who is legally responsible for the property - is a quit claim deed the way to go?"
-----------------------------------------------------------------------------------------------
There should not be any problem with it Julia. Your parents can use a quit claim deed to add your name to the title of the house.
-----------------------------------------------------------------------------------------------
There should not be any problem with it Julia. Your parents can use a quit claim deed to add your name to the title of the house.
The issue is NOT whether you can accomplish the title “transfer” but whether it will activate the “due on sale” clause – make the entire principal balance due and payable. That’s not a happy situation.
For some reason this site wants to keep folks ignorant of Fannie guidelines that are available “free” on the Internet (this is the reason why I won’t participate as a “named” individual). Their choice but I would ask the company handling your mortgage how to gain access and then look at the servicing guild II, 408.02. Most servicers follow FNMA and at least it will give you a basis to discuss the situation with your servicer, Personally I think you may have a problem.
For some reason this site wants to keep folks ignorant of Fannie guidelines that are available “free” on the Internet (this is the reason why I won’t participate as a “named” individual). Their choice but I would ask the company handling your mortgage how to gain access and then look at the servicing guild II, 408.02. Most servicers follow FNMA and at least it will give you a basis to discuss the situation with your servicer, Personally I think you may have a problem.
"The issue is NOT whether you can accomplish the title “transfer” but whether it will activate the “due on sale” clause – make the entire principal balance due and payable. That’s not a happy situation. "
But Guest Julia hasn't mentioned anything about mortgage. It can be that the house does not have a mortgage.
Colin
But Guest Julia hasn't mentioned anything about mortgage. It can be that the house does not have a mortgage.
Colin
Hello Julia,
If your parents do wish to add you to the deed, quit claim deed is possible under both conditions. You can also visit the page suggested by Blue to get more information on quit claim deed.
If your parents do wish to add you to the deed, quit claim deed is possible under both conditions. You can also visit the page suggested by Blue to get more information on quit claim deed.
in adding a name to title of property that has no mortgage, you would file the quick claim deed with the clerk of courts in the proper county ?
Hi darleen!
Yes, you can either draft a quitclaim deed from an attorney or download one from the Internet. Then you need to fill it up, notarize it and record it at the county recorder"s office where the property is located.
Thanks.
Yes, you can either draft a quitclaim deed from an attorney or download one from the Internet. Then you need to fill it up, notarize it and record it at the county recorder"s office where the property is located.
Thanks.
if there are two people on the deed and when it comes time to fike taxes can anyone file the taxes on the house?
Hi clydia,
Both of you can jointly pay off the property taxes or just any one of you can pay the taxes on the property.
Thanks
Both of you can jointly pay off the property taxes or just any one of you can pay the taxes on the property.
Thanks
legally owner has to pay property tax. any of the property owner can pay it
I purchased a home, my husband was not available for the signing of the loan papers, but I want to add him to the deed. Can this be done with a Quit Claim? He won't be added to the loan (this will be paid off within 3 months)just to the deed.
hi guest!
welcome to forums!
if you want to add your husband to the property deed, then you can do it with the help of a quitclaim deed. if you want to add your husband to the mortgage, then you will have to refinance the mortgage.
feel free to ask if you've further queries.
sussane
welcome to forums!
if you want to add your husband to the property deed, then you can do it with the help of a quitclaim deed. if you want to add your husband to the mortgage, then you will have to refinance the mortgage.
feel free to ask if you've further queries.
sussane
I need to add my son the deed on my property so that he will not be considered a tenant by the city. What type of form do I file? Would he be a joint tenant? Should I use a quit claim deed?