Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Real Estate Law (https://www.askmehelpdesk.com/forumdisplay.php?f=29)
-   -   Transferring mortgage and deed (https://www.askmehelpdesk.com/showthread.php?t=297937)

  • Jan 1, 2009, 06:55 PM
    robin devault
    Transferring mortgage and deed
    My husband and purchased a home that my sister had lived in a year prior to u moving in.We had a verbal agreement that since she couldn't finance it herself due to bad credit , my husband and I would get in finance in our names and give her 1 year to straighten out her credit and we would transfer the house in her name and would split the equity. Well, we been in this house for a little over three years and would like to know how do we get out of it ? How do we transfer the deed and mortgage in her name. She has paid half the mortgage, property taxes and homeowner's insurance since we purchased the home?

    Please help,
  • Jan 1, 2009, 07:08 PM
    ScottGem

    You have to sell her the home. What you can do is try a contract for deed. This is where you continue to own the home, but she pays you a monthly amount until the home is paid off.

    But the only legal way to transfer ownership is to have her buy the house from you which means getting financing.

  • All times are GMT -7. The time now is 01:25 AM.