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djt330 · Joined: 23 May 2011 Posts: 1 1.30 Dollars($)

I own a condo free and clear in WA state. I would like to sell it to a friend but she can't qualify for a loan and I can't rent it to her due to condo rules. How can I get her name on the deed? Can we be co-owners? Should I hold the contract? What is the best thing to do to get her name on the deed?

jameshogg · Posted: Mon May 23, 2011 10:11 pm Post subject:

Hi djt,

You and your friend can become co-owners of the property. You can sign a quitclaim deed and add your friend's name on the property deed. This will make her the co-owner of the property. You can contact a real estate attorney for the same and he/she will guide you further in this matter.

Thanks

gmakerley · Posted: Tue May 24, 2011 11:42 am Post subject:

djt, if you grant ownership rights to your friend, you'd better be sure this is a bosom buddy. You could have your attorney draw up a contract for the two of you, stipulating how your friend would pay you - monthly, etc.

By all means, you need to consult with an attorney to ensure that you don't end up going down the wrong path on this.

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