Centennial, CO asked in Real Estate Law for Colorado

Q: I have a rental property with an existing mortgage in Colorado. Can I add my son as a joint tenant on the deed ?

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1 Lawyer Answer
Michael Joseph Larranaga
Michael Joseph Larranaga pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Parker, CO
  • Licensed in Colorado

A: It depends. I know everyone hates that answer.

In general, if you own a piece of real property, you can add another person as a Joint Tenant. But depending on state law, if the mortgage is a deed of trust or other, the terms of the contract and so on, changing ownership can be an issue.

For example, many mortgages contain an acceleration clause meaning if you transfer ownership, they can demand payment of the full mortgage. As such, you need to talk to your lender, talk to an attorney, and ensure you have all your ducks in a row before changing ownership.

Please note that this is not legal advice. Every situation is different and outcomes can vary drastically based on the specific facts of the case, applicable law, and so on.

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