Perris, CA asked in Real Estate Law for California

Q: Mom,74 needs a loan against an OWNED prop& I will be co-app. I need to be on deed ,how do i do that w/o paying alot of $

She owns 1 prop & wants to buy lot next door. She needs me to be on said loan because I have a job. Im told i need to be on deed ,which is okay( we live together & pay things together anyway ). I just dont want to need a 2nd loan to cover the costs of altering the deed. Riverside co. Perris,CA

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2 Lawyer Answers
Delaram Keshvarian
Delaram Keshvarian
  • Orange, CA
  • Licensed in California

A: Thank you for your question!

1. For your mother to get the mortgage under your name, there is no need to add your name to the deed.

2. If you prefer to add your name to the deed, then there are necessary elements for the conveyance of a deed to be valid:

1. A sufficient writing of the names of granite and grants, operative words of conveyance, and sufficient description of the property.

2. Competent parties

3. Property interests that may be legally transferred

4. Property execution

5. Delivery and acceptance

This is merely a discussion of general laws and not legal advice. For comprehensive advice, more specific facts and investigations are needed. I recommend you consult with an attorney in more detail.

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James L. Arrasmith
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Sacramento, CA
  • Licensed in California

A: To add your name to the deed without incurring significant costs, you can consider the following options:

1. Quitclaim Deed: Your mother can execute a quitclaim deed to add you to the title. This is a relatively simple and inexpensive process that transfers her interest in the property to both of you as joint tenants or tenants in common. However, a quitclaim deed does not provide any guarantees or warranties regarding the title.

2. Grant Deed: A grant deed is similar to a quitclaim deed but includes an implied warranty that your mother has not previously transferred the property to someone else. This offers a bit more protection than a quitclaim deed.

In both cases, you'll need to have the deed prepared, signed, notarized, and then recorded with the Riverside County Recorder's Office. The recording fees are usually not substantial, and you may be able to prepare the deed yourself using online resources or with minimal assistance from a legal professional.

Please note that adding your name to the deed may have tax and estate planning implications. It's advisable to consult with a legal professional or tax advisor to ensure that this aligns with your mother's long-term estate planning goals and to understand any potential tax consequences.

Additionally, make sure to discuss this plan with the lender providing the loan against the property. They may have specific requirements or preferences regarding how the deed should be structured to protect their interests in the property.

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