DEAR BOB: How can I add someone to my deed? My property has no mortgage. I want to stay on the deed as well. --Terri B. DEAR TERRI: Just execute and record a quitclaim deed conveying from yourself to your friend whatever percent interest in the property you wish to convey. Be sure to specify the method of holding title, such as tenants in common, joint tenancy with right of survivorship, partnership, revocable living trust, etc. Purchase Bob Bruss reports online. Please be aware that if you select joint tenancy each interest will automatically be equal, such as 50-50. When one joint tenant dies, the survivor owns the entire property. A will has no effect on joint-tenancy property. For details, please consult a local real estate attorney. FINANCING A MODULAR HOME ON LEASED LAND...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.