transfering ownership

**natel** · 07-03-2009, 12:25 AM

Currently, my fiancee and her parents own a house that has gone down in value about $140,000. We'd like to put the house in just my name and my soon to be wife's name. We're fairly clueless about how we should do this and I would welcome and appreciate any and all comments form others here. I'm sure you might need to ask me some questions, so please ask away. Thanks!

**Greg** · 07-03-2009, 06:17 AM

When it comes to restructuring deeds you need to hire a professional to make sure it does not get screwed up. By professional I mean an attorney who handles real estate.

**REITrainingWhse** · 07-03-2009, 07:22 AM

Originally Posted by Greg

When it comes to restructuring deeds you need to hire a professional to make sure it does not get screwed up. By professional I mean an attorney who handles real estate.

I will agree to that...IF you have not done title transfers before, BUT (you "knew" there was going to be a "but") once you see how they are done, chances are that you will be able to do it in the future.

All it takes is the signing over the deed, a simple document that can be purchased at your local legal forms supply house, and taking the deed to your county's register of deeds office. Of course they will want you to fill out some paperwork to complete the transfer (the county wants their cut [transfer taxes,]) but it is pretty painless.

So again, if you are unsure of the process, hire it out, but ask to have them explain the process to you... It might cost you a little extra, since it will take the attorney longer to explain it to you, but it will save you in the end: IF YOU PLAN ON DOING MORE TITLE TRANSFERS IN THE FUTURE. If you are not planning to do many of these types of transfers, then just let the professionals do it each time, as many will not find it useful to understand the process, if they don't intend to use it.

Lot's of rambling... Mostly for all the viewers.

Later!

**tucsonhomes** · 07-04-2009, 08:38 AM

Originally Posted by Greg

When it comes to restructuring deeds you need to hire a professional to make sure it does not get screwed up. By professional I mean an attorney who handles real estate.

Please follow this advise!

While deeds surely have a simple apperance they are NOT!

Legal descriptions must be precise, the form of the deed DOES matter.

Grantees must be named with great clarity and the situation you describe an create (or prevent) marital rights as well.

Deeds can create obligations for the grantor well beyond their own lifetimes (meaning on to their heirs) and rights for the grantee well into the future.

Find someone who knows what they are doing and pay them their fee, it will be well worth it.