Legal Question in Real Estate Law in California
I bought a house a year ago and now I am paying monthly mortgage. My baby will be borned in July. I was wondering if i can transfer the title to my baby. I will still be paying mortgage for the house.
Asked on 6/23/10, 9:58 pm
2 Answers from Attorneys
No. Your mortgage will have a clause that says the whole loan becomes due if you transfer title to the house to anyone else. That would include your baby. Furthermore, until your baby is 18, the property would have to be transferred in trust under the Uniform Gifts to Minors act.
Answered on 6/24/10, 8:16 am
Anthony Roach
Law Office of Anthony A. Roach
If you want your children to have your home, you should talk to an estate planning attorney. You can set up a will, or a trust, or a joint tenancy that may provide for your transfer needs.
Answered on 7/01/10, 1:59 pm
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