How to remove name from title, deed

Author Message
Icon Mini Profile jkhsu





Joined: 15 Mar 2010

Posts: 2

1.50 Dollars($)
Post Posted: Mon Mar 15, 2010 1:45 am    Post subject: How to remove name from title, deed
Like
Dislike

Hi,
My parents' name is on the title of my property. However, I am the one with the mortgage and my wife and I live in the property. I would like to remove my parents' name from the title. How do I do this?

Thank you,
James
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 12593
Location: Alaska
1309.02 Dollars($)
Post Posted: Mon Mar 15, 2010 11:22 pm    Post subject:
Like
Dislike

Hi jkhsu!

Welcome to forums!

It's quite surprising that your name is on the mortgage while your parents' name are on the property deed. If you want to remove your parents' name from the property deed, then you will have to ask them to sign a quit claim deed in your favor. Once they do so, you need to notarize it and record it at the county recorder's office.

Feel free to ask if you've further queries.

Sussane
Icon Mini Profile jkhsu





Joined: 15 Mar 2010

Posts: 2

1.50 Dollars($)
Post Posted: Mon Mar 15, 2010 11:58 pm    Post subject: How to remove name from title, deed
Like
Dislike

Thanks for the answer. It's a long story... In short my parents put in some money to help me with the mortgage. I would like to pay them back when I sell the property in a few years. However, they don't feel comfortable removing their name from the title. What's the best way to do this? Promissory note? Deed of Trust? Since it's a family matter, I would prefer not to get lawyers and tax attorneys involved. Want to settle this peacefully. Thank you.
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005

Posts: 12179
Location: ALASKA
1313.94 Dollars($)
Post Posted: Wed Mar 17, 2010 12:00 am    Post subject:
Like
Dislike

Hi jkhsu,

A promissory note or a deed of trust will not help you in removing your parents' name from the property deed. They will have to sign a quit claim deed and remove their name from the property deed.

_________________
Procrastination is the enemy of your financial success
tess

Guest







Post Posted: Fri Jul 16, 2010 11:59 pm    Post subject: title
Like
Dislike

We are helping our kids buy a home. we took out a home equity to pay for their home. They plan on refinancing in a couple of years to pay us back. What's our best way to handle this. All our names on the title or us as the liemholders?
Ask question
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message Body
All times are GMT - 7 Hours
Page 1 of 1

 

Page loaded in 0.262 seconds.