Q: What does it take to change names on a deed?
My son is buying a condo. After he closes, I want to give him half the down payment in exchange for half ownership. What will be required?
A:
He will have to execute a Deed to you for a one/half interest as a tenant in common.
But apparently it will be subject to a security interest, and the lender might exercise a due on sale clause for foreclosure. Hire a competent attorney prior to the condo purchase. You might be better off buying with him from the start. In any event there will be HOA fees each month.
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