You can add your son's name to the property deed with the help of a quitclaim deed. You can find the sample quitclaim deed forms online but it will be better if you can consult an attorney and draft it from him. Once the deed is filled out, you will have to notarize it and record it at the county recorder's office. _________________ Procrastination is the enemy of your financial success
jj Guest
Posted: Wed Mar 04, 2009 7:37 pm Post subject: adding name to condo, florida
my partner and i want to add each other's names to our condos, that we each own separatly. we purchased them both at the same time, and same price, but didn't have both names put on them. will there be gift tax consequences? both properties have mortgages. can we just quitclaim eachother to the deeds? thank you. jjj
There is a due-on-sale clause with most of the mortgages which implies that if any change is made in the title, the lender will have the right to ask you to pay off your balance loan amount. Thus, if you want to make a change to the title, inform the lender. Generally the lender would like you to refinance the property in both of your names, if he adds you to the title of the property.
i think its more likely that you can add your name to title without the need to refinance. though your lender will, indeed, have a due on sale clause, you're not removing their borrower but merely adding yourself. _________________ George M. Akerley
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stacey Guest
Posted: Mon Apr 27, 2009 7:18 am Post subject: name on deed
my husband and i are married ,but he bought the house before we got married.how can he add my name on the deed and where would we go?also whar would happen to the house if something were to happen to him before we would get this done,would i still get the house or what because he has to kids with first wife would he get divided?
Your husband can add you to the title through a quit claim deed. If you are not added to the title and, God forbid, your husband passes away, you'll not inherit the property straightaway unless it's a community property state. You will then have to file an affidavit of heirship to get the ownership of the property.
In addition, you asked how the estate would be divided. Once you get your name on the deed, that should get you a half share in the home should he pass away. His half share would be determined by his will. It would be a good idea to discuss how that should be handled and get it in writing so that you do not have a feud with his kids. _________________ Eric JFree Rate Quotes, Stated Income Loans FREE MLS HOME SEARCH Lenders Near You
Vicky Guest
Posted: Fri May 15, 2009 4:54 pm Post subject: Name On Mortgage not on House Title
My husband recently passed away leaving all personal and real property to me. He purchased the house in his name only 15 yrs ago. We married in 94 and shortly thereafter refinanced the house to a shorter term mortgage. Only problem I was never put on the Title so I'm on a mortgage at the bank but not on the title. Its left to me in the will , will I have to pay gift taxes. I am the sole beneficiary.
If your husband has left the property in your name in a will, you'll need to probate the property so the title can be changed in your name. You need to consult a probate attorney regarding this. You do not have to pay any gift taxes for the change of title.
welcome pacer,
You can do file for Quit Claim Deed to add your ypur son onto the deed.For that you take advoice from Agent or local officer.For this you may be charged so try to investigate.And this charge amount is varies by country.
You can go through "http://www.ocgov.com/assessor/forms.asp#transfer"
Thanks
Hari
ew Guest
Posted: Wed May 20, 2009 4:18 pm Post subject: refinance
My ex bought a home for my daughter and her husband. The home is in my ex's name . His last wife's name is on the loan. He is now with a terminal illness. He is retired. H e now wants me to help him refinance , to lower pmts. How can this be done with his ex on the loan. He has paid her back her money and this was done by his attorney. He says once I refinance her name will come off. Will my name be on the deed as well.
When you refinance in your name, your ex's last wife's name will be removed from the loan. You will then become responsible for the loan. If you want to have your name on the deed, your ex who is now on the title needs to transfer the ownership to you through a deed.
adonis
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