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cure171 · Joined: 27 Oct 2008 Posts: 1 1.34 Dollars($)

My father officially owns the house that I live in. It is in NY. I pay the mortgage, and the down payment was mine, but all is in his name, both the title and mortgage are soley in his name. Can he title the house over to me without the mortgage? I do not have good credit. I do not know what to do!! My dad is very sick now, and we want to take care of everything now.. while he still can..Thanks!!

smithsussane · Posted: Mon Oct 27, 2008 6:50 pm Post subject:

Hi cure!

Welcome to forums!

Yes, the title of the house can be definitely transferred in your name. You can ask your father to sign a quitclaim deed in your name and include your name in the property. You have mentioned that you do not wish to have the mortgage in your name. If in future you decide to transfer the mortgage in your name, you will have to refinance it.

Feel free to ask if you have further queries.

Sussane

jerry · Posted: Tue Oct 28, 2008 2:23 am Post subject:

Hi cure!

Sussane is absolutely correct in saying that you can include your name in the property by the help of a quitclaim deed. However, you should remember that if the property ownership is transferred in your name, the lender may ask you to refinance the loan in your name.

Thanks.

Jerry

brian1 · Posted: Tue Oct 28, 2008 9:15 am Post subject:

what you may want to do is consult with a local atty
I am thinking adding you would be better than a pure transfer - add you as a joint tenant.
If he transfers it to you it could trigger the due on sale clause of the note.

Good Luck
Brian

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transfer title of house, not mortgage