Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

How can you add name to house deed?

Posted on: 29th Dec, 2006 10:16 am
My husband has a mortage on our house in his name only. He is ill and I may need to get my name on the mortage. How do I do this. We really do not have a lot of money for lawyers, the last one charged 1200.00 for a POA. Please help.
hi garfield,

welcome to mortgagefit forum.

to get your name included in the mortgage the lender will require the mortgage to be refinanced.

also your name should be on the title of the house before the lender would agree to it, for that your husband can make out a quit claim deed to transfer half share of house interest to you.

a quit claim is one of the easiest ways to have someone's name included on the property title and is not very expensive also. let me know if you have any other questions.

i also hope that your husband gets well soon and both of you have a prosperous new year.

colin
Posted on: 29th Dec, 2006 10:50 am
My in-laws own land on which my wife & I are going to build a house. They (my in-laws) have agreed to a quick claim deed in order to get our (my wife & I) names on the deed to the property. Are there any tax ramifications for either of us? How do we get their name off the deed once construction is done? Thanks
Posted on: 29th Dec, 2006 08:32 pm
hi garfield,

instead of going for a refinance, your husband can transfer the loan to you by the process of novation. this is because refinance involves a lot of costs almost similar to what you have paid for the first loan.

you may go through a previous thread where our community had started a discussion over novation.

please feel free to share further doubts or queries.

wishing you a happy new year

caron.
Posted on: 30th Dec, 2006 12:37 pm
Welcome Bass.

You can get your name off the land again by a quit claim deed. But if you wish to own the house, I"ll say its better to own the land also. Otherwise, you may have trouble taking loans against your home in future.

Regarding tax implications, you will have to pay property taxes as long as the property (including land and house) is in your name. For the details, you may check out discussions on Tax implications of Quit Claim.
Posted on: 30th Dec, 2006 12:53 pm
Hi Bass,

The recipient (person receiving property) may need to pay real estate excise taxes while the transfer is made. If there is mortgage against the property at the time of transfer and the recipient assumes the loan, then he should pay excise taxes on the balance of the debt.

However, if the property is transferred free and clear of any mortgage debt, then real estate excise tax is not due.

In your situation, if you get the property free of any mortgage, then you need not pay excise taxes.

Hope this will help you.

God bless you.

Samantha
Posted on: 31st Dec, 2006 07:32 am
Hi Bass,

Depending upon the state laws, you may not have to pay tax for the transfer of title from your in-laws to you and your spouse. This is because both of you will not be paying the in-laws any money in return.

The transfer of property from your in-laws will be treated as a gift as you are not paying them any cash. You need not pay the gift tax nor is it required to pay income tax on the gift. Your in-laws may have to make payments on gift tax if they don't qualify for the exemption limit.

Hope this is now clear to you.

Happy New year!

Caron.
Posted on: 31st Dec, 2006 08:04 am
My boyfriend is paying on his own home.If i marry him,can he put me on the deed,or only leave the house to me in a will?
Posted on: 04th Oct, 2008 07:46 am
A title company can prepare the deed for much less. Typically for about $50. This is a good comprimise between trying to do it yourself (and possibly messing up) or overpaying an attorney to do this.
Posted on: 04th Oct, 2008 09:23 pm
my fiance is buying a house when we get married can he add my name to the deed and does that give me ownership rights? my credit is not good so he is buying the house using his credit.
Posted on: 08th Oct, 2008 07:34 am
Hi Wanda!

Yes, you will get ownership rights once your name is on the deed.

Thanks,

Jerry
Posted on: 10th Oct, 2008 05:09 am
wanda, when he purchases the home, he will be promising to the lender that he will pay his loan in full if he transfers title. adding you to the title will constitute a transfer. he may want to discuss this with his lender, his attorney, etc. prior to the closing to ensure that there are no difficulties arising from this plan.
Posted on: 10th Oct, 2008 07:30 am
my husband and i am divorced but he lives in the house the mortgage note is in my name only, but in florida if you are maried the other person has to sign the mortgage wich he did. when we divorced we did not change anything on the house. i thought he was on the deed. he has done some remodeling and did not pull permits, because he did not know he had to. now we have violations and permits have to be pulled to continue and even to take some things down. my problem is i do not live there and they say the owner has to pull the permits i am out of state.
is there anyway i can add him to deed so that he is also a owner so that he can pull the permits he needs. can i give him a power of attorney to pul permits on my behalf if i can not add him to the deed. there is a mortgage on the house in my name only and the clerk told me to quit claim or add him he has to pay taes on the remaining balance of the loan. if i add him he has to pay half tax and if i give it all to him he has to pay all the taxes on it.
please advise.. the property is in florida
thanks
Posted on: 12th Dec, 2008 12:10 pm
I think you can add him to the deed of the property with a quitclaim deed. You may even give him a power of attorney so that he can pull the permits on your behalf. But you should note that this will give him full rights to the property as you are enjoying right now.

If you quitclaim the whole property to him, there are chances that the lender will ask him to refinance the mortgage in his name. In that case, he will also have to pay the property taxes because he is the owner of the property.
Posted on: 13th Dec, 2008 12:55 am
My husband and I would like to add our son's name to our deed. He is our only child left.
Posted on: 06th Jan, 2009 07:58 am
Welcome pacer,

You can add your son's name to the property deed with the help of a quitclaim deed. You can find the sample quitclaim deed forms online but it will be better if you can consult an attorney and draft it from him. Once the deed is filled out, you will have to notarize it and record it at the county recorder's office.
Posted on: 06th Jan, 2009 11:40 pm
Page loaded in 0.180 seconds.