Full question:
My parents took out the loan for our house 10 years ago. We pay mortgage and taxes. They did give us an unrecorded contract of the sell. We would like to add my husband and I to the title, how? We don't want to change the loan; we just want to be added to the title.
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: California
Answer:
You can add your name and your husband's name to the title by having your parents execute a new deed. This deed will transfer ownership from your parents to themselves and to you and your husband.
A deed is a legal document that transfers title or interest in real property. It must include a description of the property, the names of the current owners (grantors), and the names of the new owners (grantees). Your parents must sign the deed, and their signatures need to be notarized.
Once the deed is signed, it must be delivered to you and your husband to be effective. You can accept the deed by recording it, which is done at the county recorder's office where the property is located. Recording the deed provides public notice of the ownership change.
There are two common types of deeds: a warranty deed, which guarantees the grantor owns the title, and a quitclaim deed, which transfers whatever interest the grantor has without warranties. A quitclaim deed is often used among family members.
When you add your names, you may choose to hold the property as joint tenants, which means that if one owner dies, the other automatically inherits the property. In some states, if a married couple is named on the deed, it may be presumed they hold the property as tenants by the entirety, which has unique characteristics.
Keep in mind that adding names to the title does not change the mortgage obligations. Your parents will still be responsible for the mortgage payments. If you have questions about specific state laws or procedures, it may be beneficial to consult a local attorney.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.