Legal Question in Real Estate Law in Florida
real property
A friend has defaulted on a loan to purchase a house and per our agreement has now agreed to put my name on the deed until th e loan is fully paid off. How do we go about including my name on the deed (we live in Florida)?
3 Answers from Attorneys
Re: real property
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Presuming you friend has title to the property, the friend can execute a Quit Claim Deed to change the title into your name or to add your name to the title. You must be careful, however, if the mortgage is through a third party, any transfer might trigger a due on transfer clause in the mortgage.
You should meet with a qualified real estate attorney who can review the specifics and advise you how this should be handled.
Scott R. Jay, Esq.
Re: real property
A local attorney can prepare a deed and the other documents required for filing it. In addition, since you are in FL, the documents for transferring the tgitle will need to be overnighted to you for signature and returned for filing in the Westchester County Clerk's office in White Plains. My office can do this work for you at a reasonable cost.
This post is not legal advice and does not create an attorney-client
relationship. It is a comment on the legal question posed by the
poster and should not be relied upon in any way. All readers are
advised to consult an attorney to address their specific legal
concerns. Additional facts could affect the answer given.
Re: real property
If he already owns the property, a new deed can be drawn to include your name. If not, your name must be added to the deed at the closing.