Maresunshine
Feb 27, 2007, 10:09 AM
My mother recently became unable to care for her home. She refinanced it and asked me to move in. She is now living with my sister.
I am paying the loan even though it's in her name. She has asked me to get information about transferring the ownership. She would like the house to be in myself and my husband's name. Would a contract for deed accomplish this?
Her concerns are that she would like me to be able to claim the interest I am paying on my income tax. Secondly that my interest in the home is protected if she should pass away. I had read about the quitclaim deed but that seems to be bascially worthless.
Thank you,
Lisa Ellis
I am paying the loan even though it's in her name. She has asked me to get information about transferring the ownership. She would like the house to be in myself and my husband's name. Would a contract for deed accomplish this?
Her concerns are that she would like me to be able to claim the interest I am paying on my income tax. Secondly that my interest in the home is protected if she should pass away. I had read about the quitclaim deed but that seems to be bascially worthless.
Thank you,
Lisa Ellis