Legal Question in Real Estate Law in Arizona
Add Names to Property Deed
What form(s) are necessary to add my daughter and son-in-law to our property deed, so there would be 4 of us on the deed jtwros. There is a mortage held by my sister, and there is no objection to adding family members to the deed.
2 Answers from Attorneys
Re: Add Names to Property Deed
You can use a Quit Claim deed or a Warranty Deed, but I do not recommend that you do so.
By adding them to the title now, you are giving them an ownership interest in the property. This would put you at risk in several ways. First, you may need to sell the property to pay for your own cost of living, and you would not be able to do so without their consent or you would have to share the proceeds of sale with them. What if your daughter divorced her husband? he would have an interest in the property. If you pass away, your spouse would not have sole control over the property and she might need to sell the property to pay for her care and cost of living. This is not the way to avoid probate, there are other options if that is what you are trying to do.
Re: Add Names to Property Deed
You would need to create a new deed to do this, but your sister takes a big risk in doing this. First of all, adding additional persons to the deed is probably a breach of your sister's mortgage and could result in the mortgage company calling the loan due, loss of title insurance coverage, or even loss of the home if one of the persons on the deed is sued for any reason. Depending on your reasons for wanting to do this, there is probably a much better and safer alternative.