Posted on: 09th Jun, 2010 06:59 pm
a friend has a mortgage on a rental property with a deed of trust in texas. We now want to add me as co-owner. I'm thinking we should do warranty deed in my name.
Welcome srcr,
As there is a mortgage on the property, the warranty deed can't be used to add your name to the property deed. Your friend will have to use a quit claim deed in order add your name and make you the co-owner of the property.
As there is a mortgage on the property, the warranty deed can't be used to add your name to the property deed. Your friend will have to use a quit claim deed in order add your name and make you the co-owner of the property.