Posted on: 05th Nov, 2008 08:11 am
We have a house 100% equity no mortage ever!!! After dicvocing we put our 13 year old son's name on the deed ,only...now I have to do repairs in the hoemand i cant borrow funds because my name is not on the deed...how do i go about borrowing funds to repair the home if the deed is in my son who is a minor child...name?[/b]
Hi treasey!
Welcome to the forums!
As far as I know, one cannot transfer the title of the property to a minor child. You will have to change the property deed into your name. For this you can sign a quitclaim deed. You will have to notarize and record it in the county recorder's office. Once your name is on the deed, you will be able to get home improvement loans.
Feel free to ask if you have further queries.
Sussane
Welcome to the forums!
As far as I know, one cannot transfer the title of the property to a minor child. You will have to change the property deed into your name. For this you can sign a quitclaim deed. You will have to notarize and record it in the county recorder's office. Once your name is on the deed, you will be able to get home improvement loans.
Feel free to ask if you have further queries.
Sussane
A minor can acquire property (though this is usually through inheritance) but cannot convey property as they lack the legal capacity to execute a deed. You'll have to contact an attorney as you may need a legal guardian to sign for your child.