Legal Question in Real Estate Law in Maryland
adding a name to a deed and refinancing
I am listed on the deed of the home that my fiance and I share in Maryland. I would like to add him to the deed. We would also like to refinance our home. Which should we do first? Or can the deed be changed when we refinance?
2 Answers from Attorneys
Re: adding a name to a deed and refinancing
You can do all of this at one time. Be sure that this is what you want to do as it is difficult to get a name off once it is put on. In the event that things go south in your relationship, you might have to buy him out of the home in order to get his name off.
If you are interested, I would be happy to discuss this further with you. Contact my office for a consultation regarding this matter.
Re: adding a name to a deed and refinancing
Spouses can transfer an interest free of recordation taxes. Such an interest can also pass free of recordation through divorce without recordation taxes. Otherwise recordation taxes will be due.
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