Posted on: 23rd Feb, 2009 04:05 pm
To whom it may concern,
My husband and I bought a home in Virginia. We would like to make my parents equal owners in the house as they provided 50% of the down payment. Which form should I use to transfer 50% of the title to their names?
Thank you
Jennifer Lawrence
My husband and I bought a home in Virginia. We would like to make my parents equal owners in the house as they provided 50% of the down payment. Which form should I use to transfer 50% of the title to their names?
Thank you
Jennifer Lawrence
Hi Jennifer,
To add your parents to the title, you can simply sign a quit claim deed giving up half of your interest in the property to them. You can also quitclaim to them as your joint tenants. This will give them an equal and undivided share in the property.
To add your parents to the title, you can simply sign a quit claim deed giving up half of your interest in the property to them. You can also quitclaim to them as your joint tenants. This will give them an equal and undivided share in the property.
How to remove name from title and deed
Welcome Cozetta,
If you want to remove your name from the property deed, then you need to sign a quitclaim deed in favor of someone else. Once you do so, you won't be the owner of the property anymore. However, if you also hold the mortgage on the property, then you'll have to ask the new owner of the property to refinance the loan in his or her name.
If you want to remove your name from the property deed, then you need to sign a quitclaim deed in favor of someone else. Once you do so, you won't be the owner of the property anymore. However, if you also hold the mortgage on the property, then you'll have to ask the new owner of the property to refinance the loan in his or her name.