Legal Question in Real Estate Law in California

My parents purchased a home for my husband and I. The deed is in their name until we pay it off. Husband and I would like to get a home equity loan or refi so we can pay them off for the house, then continue making mortgage pymts. Should they add us to the title or just deed it over to us?


Asked on 12/28/16, 8:29 am

1 Answer from Attorneys
Mark Saltzman, MBA, JD Law Offices of Mark E. Saltzman

I suggest that, when you pay off your parents, you and your husband take the title, without your parents. If your parents are left on title, the house would be subject to your parents' creditors, tax liens, and other obligations. As for the tax ramifications of the transfer, you should check with a tax expert.

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Answered on 12/29/16, 12:39 pm


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