mikey-can
May 11, 2008, 10:22 AM
I am getting divorced and my husband will be executing a quit claim deed removing himself from the deed to the home. I want to add my parents to the deed with me as "joint tenants with right of survivorship". What options are available that would be practical and economical. Thanks
Fr_Chuck
May 11, 2008, 11:09 AM
Well first why?
Next is there a mortgage on the home, taking off a spouse because of divorce and a court order is one issue, but adding someone to a deed that is not on the mortgage is another issue, and you will want to be sure that the mortgage company does not care first.
If they don't have trouble doing so, a quitclaim deed would be fine at doing it.
Also have your parents check about any tax issues about them being added, since there couild be an issue of the gift of 1/2 of the equity in the home.