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    robin devault's Avatar
    robin devault Posts: 1, Reputation: 1
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    #1

    Jan 1, 2009, 06:55 PM
    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,
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 1, 2009, 07:08 PM

    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.
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