I want to add someone elses name to the deed.

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Icon Mini Profile lindasuetaylor

Joined: 06 Mar 2010

Posts: 1

1.31 Dollars($)
Post Posted: Sat Mar 06, 2010 4:01 pm    Post subject: I want to add someone elses name to the deed.

I own a rental house outright in my own personal name. I would like to put my daughter and son-in-laws names on the deed along with mine. It looks like a quit claim deed takes my name off of it entirely. Is that right?

If I don't use a quit claim, then how do I do it? What about forming an LLC and then making all of us members?

Eventually my name will be taken off entirely when they finance the property, but until then, I would like to keep my name on it.
Icon Mini Profile smithsussane

Joined: 18 Sep 2008

Posts: 12593
Location: Alaska
1309.02 Dollars($)
Post Posted: Sun Mar 07, 2010 10:27 pm    Post subject:

Hi lindasuetaylor!

Welcome to forums!

It is not true that the quit claim deed will entirely remove your name from the property deed. While you add your daughter and son-in-law to the deed, your name would be mentioned as the grantor of the property whereas you along with your daughter and son-in-law will be mentioned as the grantee. Thus, you would remain the owner of the property though you add them to the deed. A quit claim deed will also help you in transferring your property into LLC.

Feel free to ask if you've further queries.

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