Removing parents off of house deed?
CheryI recently was added to my parents home deed in hopes to buy. The verbal agreement between us was to add my name to the house in order to refinance and pay off their other house; i know want their name removed from the deed. How do i go about doing so?I recently found out, i may refinance the home again and remove their name off of the deed in that way. Is this true?If so, i have bad credit and i dont want to jeopardize a good rate on the house. Thanks in advance to those who help.
HyacinthThe lender may have something to say about whose name is on the deed and require that any owner be approved by it or call the loan due immediately. You should invest some money in a consultation with an estate planning attorney to work out the best way to do what you want to do.
AutumnThe lender will have a say in who is on the deed. You need to consult an attorney who does real estate. I don't believe that you can remove their name and refinance in your name with bad credit. You will have to go through a lender the traditional way.
ShaquanaYou would need to have your parents sign a quit-claim deed. But be sure about your financing before you do anything.