My dad and moms house how do i take my dads name out???

Brenda
Here's the situation. My dad and my mom owes a house together. the house is already paid off. Recently my dad open a secure line of credit and put the house down as collateral. Something happen and he almost max the card out.They would like to refinance the house. But first things first my mom wants to take my dads name out of the house. what is the proper procedure for this? do we go to a lawyer and get my name to sign something?much is appreciated.

Dorthea
The place is mortgaged, when he put it up for collateral, he had a lien place against the property, so even if you tried to take his name off the deed, you still have the collateral lien against it.. I think your father will need to pay off the note first..

Emerson
You cannot do this without dad signing off. Avoid the quit claim deed that others are suggesting, it is a flimsy way to convey title. I hate to point out the obvious, but the house is not paid off anymore, there is a debt against it. This debt will have to be paid before ANYTHING can happen with the deed transfer. The house secures the loan your father took.As an aside, he should not have been able to take a line of credit on the house that was both his and your mother's name. Mother should have had to sign also.A lawyer might be a wise investment at this point.

Argelia
That line of credit is just like a mortgage. The house is STILL collateral for that loan. He can do a quit claim deed, and deed over his interest to your mom entirely - but he is STILL responsible for that loan, and the house can still be foreclosed if he doesn't pay.Likely, he's not going to be able to get another mortgage, unless there is remainin equity in the house - total of all loans/mortgages, subtract that from the market value of the house.

Chester
Not sure where you live, but the house is likely half his. She can't just take it away.If he opened a line of credit and used the house as colateral he can't just get the house out of his name and hope the debt goes away.Sorry, but when adults do things, they can't just walk away and forget about them.

Hipolito
You need to get the deeds altered, usually they are kept with the lawyer, so you would need to make an appointment with them. If things are really bad financially you might want to seek some debt advice, they might be able to advise you methods that would mean you don't have to take your dad's name off the deeds.

Chantay
You can't take his name out without his consent. You would essentially have to agree a contract of sale that transfers his interest to your mum or you. Not unreasonably, I think he would expect to get half the value of the house to compensat him for his loss of the interest in half of the house.

Caryl
Yes you should go to a lawyer, and transfer the mortgage into only your mother's name. These are legal documents, are required to be flawless, go to a professional.

Dick
Your mom needs to do the refinancing papers on her own. When she obtains the new loan, SHE pays off the old loan and VIOLA it is all in her name. No need to remove anyone from anything. Just don't INCLUDE your dad on the refinancing.

Delia
If he owns part of the house then legally you can't remove his name.I meant without his consent.

Gilberte
You put the house up as collateral and that will not change, whether his name is removed from the deed or not.

Ines
Without your father's consent, you can't do that.

Juana
Yes and you need to pay your father for his half of the house.

Anissa
call a lawyer for a free consultation and you will find out what you need to do

Amberly
It is called a Quit Claim Deed. What happens is your mother and father together will deed the house over to your mother only. This is actually like a sale. The problem is your mother will then take title to the property subject to the lien, the credit line. Usually when there are joint owners then one cannot finance the property without the other signing also.The Land Titles Act, 2000 prevents one joint tenant from mortgaging, selling or otherwise dealing with the property without the formal consent of the other joint tenants or a court order.It all depends on how they bought the property in the first place. If they bought it as joint tenants, that is one thing. If they bought it as Tenants in Common, that is a different matter. In that case each owns a percentage share of the entire property and each is free to sell his share independently of the other.No any lawyer will NOT do. A divorce lawyer would have no idea about these things, nor would a lawyer who handles accident claims. You need a real estate lawyer.

Breanne
Get a really really good lawyer!