Hello, Before I got married, I had a land contract on our house through my mom who has no lean on the house. It's a 30 year contract but it only has my name on it. We now have kids and want to have her name on the contract as well. My mother also agreed to give us a better interest rate. She had the original contract made up through a lawyer. I am trying to do this cheaper than going through a lawyer. I see how I can get the papers on-line for $30. Do I still need a lawyer no matter what? Do I need to file these papers with the state to make them official? Can you tell me the easiest, cheapest way to do this? -Tom

Hello Tom:

The easiest and cheapest way to do it is hire a lawyer. If you do it yourself, and make a mistake (a GOOD possibility), then it's going to cost you a LOT MORE money to fix it than you would have spent in the first place.

Now, if this was a contract you were writing up between you and a friend over a car purchase, or a loan, I'd say go ahead, write it yourself... But, your home is probably the LARGEST purchase you'll ever make in your entire life. Certainly, you want to do right. Don't you?

So, I'd spend the money. But, that's just me.

excon

I agree with excon that a lawyer would be best. Try to find a real estate attorney, rater than a divorce or personal injury lawyer for the best result. If you are determined to do it on your own, help from a friend in the title business would be good. I have heard many ads for legalzoom.com. You may want to check them out. The papers should absolutely be "recorded" in your county to give "constructive notice" of your agreement.