Q: Since my husbands death I want to add my sons name to the title of a house we owned.
This is a house that my son lives in and he pays the mortgage, Taxes , Ins., etc as his rent Since my husband has passed away I would like to add my sons name on the Title.
The Mortgage Co. says the only way to do that is I have to sell the house to him.
A: This can be done, you should call a lawyer to assist, real estate attorneys like myself routinely take care of these matters. You will need to have a deed prepared and have the deed recorded with the Cook County recorder if the home is in Cook County. A lawyer can explain the banks statement to you, there is probably a due on sale/transfer clause in the mortgage. This should not dissuade you, the banks generally do not enforce these provisions so long as the payments are made timely and the property is insured. Best of luck!
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