Adding Someones Name to a Deed but not the home mortgage

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Is it possible to add someones name to my property deed, but not add that persons name to the home mortgage which is on the property? If so, is it possible to add that person as a one-quarter share of the deed?

jerry · Posted: Tue Mar 17, 2009 5:36 am Post subject:

Hi Gregd,

You can add someone to the title using a quitclaim deed. But adding someone to the deed with an existing mortgage on the property might not be possible. Most of the mortgages have a 'due on sale' which makes the balance loan amount due when and if any transfer in ownership takes place. If you add someone to the title you might be required to refinance the loan in both you and the co-owner's name and pay off the current debt. However, you can request the lender to allow this change, though I'm not sure if they would do so.

Thanks,

Jery

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