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    Handynca's Avatar
    Handynca Posts: 8, Reputation: 2
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    #1

    Apr 8, 2008, 07:45 PM
    What is the impact of changing a deed?
    Can anyone tell me what other legal documents may be impacted and/or must be addressed if you want to change the deed (title) on your home?

    Am considering protecting my home by transferring it in to my wife's name solely. I am self employed and would hate to have it at risk if anything were ever to happen and I was sued.

    Are there other documents that must also be addressed if this is done so you are not in potential violation of them? Lender, homeowners ins, etc??

    The actual changing of the deed is very simple but would hate to run into a domino effect...

    Thanks
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Apr 9, 2008, 08:05 AM
    Welcome to AMHD. If you have a mortgage, you need to read it and the note and see if there is a 'due on sale' clause. If so, you may trigger its provisions if you file the deed. If you no longer own the home, you couldn't be the beneficiary under the homeowner's policy. You could look into incorporating your business to protect you from personal liability.
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