Legal Question in Real Estate Law in Illinois
adding a person to a title and a mortgatge
How do I go about adding a person to my title (that I have a mortgatge on) and the mortgage itself in the United States
2 Answers from Attorneys
Re: adding a person to a title and a mortgatge
Usually quit claim deed is the best way, but need to check your mortgage first
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Re: adding a person to a title and a mortgatge
A quit claim or warranty deed will accomplish this, BUT your mortgage probably has a clause in it which prohibits you from transfering the property. You also need to think long and hard about conveying a half interest in your real estate to someone else. It might be a better idea to give this property to this person in your will. That way, in the unlikely event things change, you can change your will. Much easier, cheaper, and quicker than a partition suit.