Ask Experts Questions for FREE Help !
Ask
    jonesea7's Avatar
    jonesea7 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 9, 2010, 03:56 PM
    Adding a person to my deed
    I have a second home that my son is living in if I add him to my deed when it comes time for him to purchase a new home will he be able to get the first home owner benefits? And how does adding a person to the deed work?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Mar 9, 2010, 05:23 PM

    You are assuming and quessing that here will be first home owner benefits when it comes, but if you add him to the deed now, he is in effect "buying" part of the property now. He can not buy something he already owns.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Mar 9, 2010, 05:36 PM

    Also, if there is a mortgage on the property, the lender may call the loan if you change ownership.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Adding person to deed/mortgage, hurt my score? [ 4 Answers ]

I want to add my girlfriend to my deed/mortgage of my house and have a basic idea on how to do it based on researching the matter. My question here is this: She has poor credit and owes medical bills. If I add her to my deed/mortgage can the collectors come after me or my house? I worked hard...

Adding another person to home deed in Tenneessee [ 2 Answers ]

As a Tennessee resident, what is required to add my son to my residence deed?

Adding another person to a title [ 2 Answers ]

A year after buying my house, I made a mistake in adding my girlfriend to the title. We have recently separated and she wants half of the house. I cannot afford to buy her out, nor do I want to sell my house and it hurts to have to give her half. What options do I have to remove her from the title?...

Adding a person to a Deed [ 1 Answers ]

If there are several people on a real estate deed and 3 of them are deceased, is it still possible to add someone else to the deed?

View more questions Search