How to change the mortgage and title

pereztribe · Joined: 03 May 2008 Posts: 2 1.86 Dollars($)

Hi,
The property was bought under my mother's name, because we had bad credit scores. But my husband and I have been paying the mortgage. We would like the property under our name and my mom is all for it, we just don't know how to change over the mortgage and deed. Oh, and I stopped by a title company and the lady at the desk informed me that the quitclaim deed is no longer legal in Texas. Is that true?

jameshogg

Hi Pereztribe,

Welcome to forums.

I haven't heard anywhere that a quitclaim deed is illegal in Texas. Just for a confirmation, you can contact Joshua Heard, the community attorney (you'll find him at http://www.mortgagefit.com/propertytransfer/index.html) and get the details.

As much as I know, a quitclaim deed is legal in texas and you can use it to transfer property in your name. But is your mom willing to give it away?

To have your name on the loan, you'd have to refinance it into your name along with that of your spouse's name. Or else you may also try out a novation.

This issue has been discussed earlier too. Have a look at a previous discussion on Tranfer of deed and mortgage .

Thanks

larry · Joined: 27 Jun 2007 Posts: 2951 411.26 Dollars($)

Hi Pereztribe,

I also have not heard anything like this. You can check it out by consulting a lawyer in your locality. I think quitclaim deed is still legal and your mother can quitclaim the property back to you by using a quitclaim deed.

You will have to inform the lender before your mother quitclaims back to you and he may ask you to refinance and take the mortgage on your name so that your mother is released from the mortgage liabilities.

Feel free to ask if you have any further questions.

Best of luck,
Larry

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