Legal Question in Wills and Trusts in Georgia
I want to add my wife's name to a deed property- land, as joint owner. What form do I need to do this?
3 Answers from Attorneys
There is no such form. You do not add someone to a deed. Then there is the question of what kind of ownership do you want ... and if you have a loan on the property whether it violates the loan agreements. If you have other debts, it might be considered a fraudulent transfer.
Unless risking what might be your most valuable asset is not important, it will be worth paying a real estate lawyer a relatively small amount of money to draft the appropriate deed after going through a few basic questions.
There is no one standard "form."
What needs to be drafted depends on the language of any existing mortgage, whether you want your wife to inherit your half without probate, and other issues. In some cases it is fairly simply. In some it may be a bad idea or even improper.
If it can be done, the cost through us would likely be under $200. Feel free to call me.
You need a new deed. It will be worthwhile to pay a real estate lawyer to draft it for you. Chances are that the mortgage/deed of trust can be modified to also include your wife if you wish to add her to the deed. This assumes that you have a mortgage in the first place; it will be less complicated if you do not.
The other issue which nobody has addressed is one of family law. I assume that all is all fine now, but in the unlikely event that you got divorced, she would be entitled to a portion of the house. It will depend on when the house was acquired to know for sure, but it may or may not be a good idea to add her name, thus taking separate property and turning it into marital property.
If divorce is unlikely and you are concerned with probate, then of course you would want to add her name. However, you cannot just add her name - the deed has to be properly drafted so that you are conveying the property from yourself to you and your wife. If the deed does not have the magic language in it, then you will have given your half of the land away and caused a mess.
Spend the money and have it done right.
Related Questions & Answers
-
If only assests are one half on home does will need to be probated Asked 6/23/10, 11:23 am in United States Georgia Probate, Trusts, Wills & Estates
-
How long can a estate be held in litigation in georgia ? Asked 6/22/10, 1:49 pm in United States Georgia Probate, Trusts, Wills & Estates