Posted on: 24th Mar, 2008 11:58 am
my mom has moved in to my grandmother's home in order to care for her. mom will be responsible for 1/2 of the mortgage payment and all house related expenses. in order for mom to get insurance on the home at a less expensive rate her name needs to be on the deed. should a quit claim deed be done giving 1/2 interest in the home to mom?
my grandmother has redone her will to state that when she dies my mom can live there until she chooses to move or dies whichever comes first and then the home is to be sold and split 3 ways between my grandmother's children.
my grandmother has redone her will to state that when she dies my mom can live there until she chooses to move or dies whichever comes first and then the home is to be sold and split 3 ways between my grandmother's children.
Hi Ele,
Welcome to the forum.
You have said "Mom will be responsible for 1/2 of the mortgage payment". So is it that you are taking a new loan. If so then will your mother be the co-signer of it?
If you are the owner of the property, then you can surely add your mother on the deed by using a quitclaim deed. I think you should take help from an attorney to add her on the deed properly.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
You have said "Mom will be responsible for 1/2 of the mortgage payment". So is it that you are taking a new loan. If so then will your mother be the co-signer of it?
If you are the owner of the property, then you can surely add your mother on the deed by using a quitclaim deed. I think you should take help from an attorney to add her on the deed properly.
Feel free to ask if you have any further questions.
Best of luck,
Larry
The home is being refinanced because of a prior debt on it with an outrageous loan rate. The financial institution couldn't put my mom's name on the loan because she isn't on the deed, only my grandmother's name is on the deed.
Hi Ele,
Welcome back.
Your grand mother can now quitclaim to add your mother as she is the only owner of the property.
Best of luck,
Larry
Welcome back.
Your grand mother can now quitclaim to add your mother as she is the only owner of the property.
Best of luck,
Larry