Hey everyone, i need help finding a fairly cheap real estate lawyer or someone that works for a title company. I need to add a name to a deed for a home. Anyone know how that works? Your help will be appreciated!
How much does a RE Lawyer or Title Co. charge? How cheap is cheap? I've used Charter Title Co. and imo their expensive, but do a good job.
What do you mean by add a name to a deed for a home? Are you trying to convey a portion of ownership in real property from one person/entity to another?
My dad purchased a home a longtime ago, and its just under his name and my mother. What he wants to do is get my name added to the deed/title, since he is giving me the property. Im also going to pay the property taxes on it as well, and ide like to have it to where I can file that with my income taxes at the end of the year. Is that possible?
All of that is possible, and BTW, I'm not an attorney, and there are tax and real property implications to all of this I might be missing, so take it all with a grain of salt. First of all, do your parent's own the property outright, or do they owe any money on it? If they still owe money, there is probably a deed of trust or their warranty deed had a vendor's lien attached which hampers their ability to convey interest in the property. Assuming they own the property outright, there should be a conveyance recorded at the county clerk's office from when they bought the property. This is the "deed" you speak of, and once it is executed (signed and notarized) and recorded (with the county clerk), it cannot be changed. You cannot "add" a name to it. It is simply a link in the chain of title. If your parents want to convey a portion of ownership to you, they need to add another link in the chain of title by executing another deed from them to you that stipulates what portion of their ownership they want to convey to you. This is something you could do yourself paying only for the neglible cost of the notary and the filing fees at the county clerk's office, but.........uhhhhh......I'm not sure I'd recommend it. You really need to have your T's crossed and your I's dotted for a conveyance to be of any value.
You need an attorney. Depending on what the loan documents say your parents may need to obtain the consent of the lender to complete the transaction. If you are in Houston, you can contact the Houston Lawyer Referral Service, www.hlrs.org
