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Can you add a person onto the title of a property that is paid off?
I am married in a community property state and I own a rental property as my "Sole and Separate Property". I want to put a close relative on the title and have the property titled as "Joint Tenants with Right of Survivorship", Can I do this without my husband having to sign off on the property, again??
5 Answers
- ?Lv 78 years agoFavorite Answer
contact a lawyer to explain the nightmares of doing it.
great way for u to lose it outright.
Source(s): builder, landlord - Ms. ELv 58 years ago
This sounds a bit like a life estate. Is the purpose to avoid probate? A life estate could work. But, I agree that you need to talk to an estate lawyer and/or real estate lawyer. Since this is your sole property, I don't understand why you'd need your husband's ok, but an estate lawyer should be able to tell you that, too.
Here's info on life estates:
- kashLv 44 years ago
Any exchange in possession ought to reason the financial enterprise to call the loan. this implies that if the financial enterprise reveals out the owner has replaced the financial enterprise ought to call for the full ultimate stability be paid in the present day. frequently a metamorphosis in possession (a deed exchange) might require a refinancing to a clean loan, except the present lender might comply with permitting this transformation and preserving the present loan in place. All it truly is had to alter the identify is to make out a clean deed, in result a sale, consequently out of your father on your mom. Technically, you need to purchase a sparkling deed kind and pass the counsel precisely, such because of the fact the full legal description, changing the names interior the areas for grantor and grantee. this might then might desire to be recorded interior the county courtroom living house. considering the fact that any transaction like this demands "attention", the dollar quantity must be $one million, and that would make it a legal settlement. in the adventure that your father became into including your moms call, it would nonetheless technically be a sale, yet consequently out of your father to the your father and your mom, frequently as tenants via the coolest purchase.
- chatsplasLv 78 years ago
See an real estate attorney familiar with your state laws
We don't know what state, what the laws are, and they vary state to state
Source(s): real estate investor