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How to remove name from title, deed

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

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

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

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:51 | Post subject:

jkhsu's picture
jkhsu | Joined: March 15, 2010 01:43 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:51 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:51 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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?

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:51 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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