Legal Question in Elder Law in California
My mom and I share a home. I pay the monthly payment. She suffered a stroke and is back home after a year in a care facility. My mom does not contribute to the payment can she take her name off the title and loan?
Asked on 3/14/11, 2:54 pm
2 Answers from Attorneys
She can only take her name off title if you both want serious adverse tax consequences. It could also trigger foreclosure if you do not refinance the loan into your name only, which is also the answer to the second part of your question - she can only get off the loan by a refinance or other pay-off of the existing loan.
Answered on 3/14/11, 2:59 pm
Terry A. Nelson
Nelson & Lawless
Title can be quit claimed to you, but the only way to get her off the loan is to pay it off, through sale, refi, loan mod, etc.
Answered on 3/14/11, 3:43 pm
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