Posted on: 28th Mar, 2009 08:15 am
MY husband and I bought a house a few years ago and added our daughter's name to the title. She was not aware of it and now she is of age and would like her name to be removed from the title.
Now we would like to remove her name from the title, is there an easy way to do it?
If we remove her name, will she still be entitled to the benefits of the first time buyer?
Thank you for your time.
Best regards,
Kim
Now we would like to remove her name from the title, is there an easy way to do it?
If we remove her name, will she still be entitled to the benefits of the first time buyer?
Thank you for your time.
Best regards,
Kim
i need to ask you first whether your daughter is major or minor?
if she is major then just signing the quitclaim will do for her. but i doubt that she will be able to avail the benefit of first time buyer. :wink:
if she is major then just signing the quitclaim will do for her. but i doubt that she will be able to avail the benefit of first time buyer. :wink:
"but i doubt that she will be able to avail the benefit of first time buyer. "
even if she was a minor at the time she was added to the title.?
even if she was a minor at the time she was added to the title.?
Hi ah,
To remove her from the title to the property, she needs to sign a quitclaim deed whereby she would transfer her interest. As she was already on the title she might not be able to qualify for a first time home buyer credit. However, a minor cannot legally own a property. So, I am not sure whether adding her to the title was valid and whether she would be considered as a legal owner of the property. I think you should consult a lawyer in this regard.
To remove her from the title to the property, she needs to sign a quitclaim deed whereby she would transfer her interest. As she was already on the title she might not be able to qualify for a first time home buyer credit. However, a minor cannot legally own a property. So, I am not sure whether adding her to the title was valid and whether she would be considered as a legal owner of the property. I think you should consult a lawyer in this regard.