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 ej
Joined: 13 Aug 2009
Posts: 2
2.03 Dollars($)
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 Posted: Thu Aug 13, 2009 6:06 am Post subject: my fathers house in MD |
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| My father owns the house we live in. We pay the mortgage etc. However we are not on the title or Mortgage. My dad wants to put us on the title and give us the house. What is the best way to do this? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Thu Aug 13, 2009 10:43 pm Post subject: |
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Hi ej!
Welcome to forums!
Your father can add you to the title of the property with the help of a quitclaim deed. A real estate attorney can help your father in drafting a quitclaim deed. After the deed is filled in properly, it needs to be notarized and recorded at the county recorder's office.
If you want to add your name to the mortgage docs, then you will have to refinance the loan.
Feel free to ask if you've further queries.
Sussane |
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e-j@comcast.net
Guest
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| Posted: Fri Aug 14, 2009 6:42 am Post subject: my fathers house in MD |
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| Can he give me the house at no cost or at the same cost he owes? |
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litisham
Joined: 23 Jun 2009
Posts: 116
0.02 Dollars($)
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| Posted: Fri Aug 14, 2009 8:18 am Post subject: |
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| quit claim is better option in your case |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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| Posted: Fri Aug 14, 2009 8:57 am Post subject: |
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e-j, your Dad can "give" or "sell" the home to you in any way, shape or form that he desires to do. whether or not he makes a profit is up to him, really.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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