Posted on: 30th Oct, 2008 02:50 pm
My parents are on the deed to my house as "Joint Tenants", but have never lived there. They and I would like to have their names removed from the deed. I have a quitclaim deed and a Grant deed and am tending towards the quitclaim. There will be no money changing hands. In what case would the properties value be re-assessed?
To remove your parents from title, all you would need to do is to have them sign a quit claim, there is no re-assessment - its simply a document to remove them from the title. Simply and painless process.
hi guest!
welcome to the forums!
as you have said that there will be no money exchange in the process, you can go for the quitclaim deed. your parents will have to sign the quitclaim deed in your favor. i don't think there will be any kind of re-assessment. however, if the property has any kind of mortgage, then you will have to refinance it once the property is transferred in your name.
feel free to ask if you have further queries.
sussane.
welcome to the forums!
as you have said that there will be no money exchange in the process, you can go for the quitclaim deed. your parents will have to sign the quitclaim deed in your favor. i don't think there will be any kind of re-assessment. however, if the property has any kind of mortgage, then you will have to refinance it once the property is transferred in your name.
feel free to ask if you have further queries.
sussane.