Legal Question in Real Estate Law in Massachusetts

Re: real estate deeds

The short answer is, there can be significant legal consequences from changing title to property. "Simply" adding a name can have a variety of effects on taxes, protection from creditors, it can in some circumstances make a mortgage loan become immediately due and payable, it can have effects on insurance, etcetera. While it might be straightforward, questions need to be answered before acting.

The best way to add a name to a deed is to contact an attorney, and explain the situation, and provide the attorney with relevant information requested by the attorney.

If you want to pursue this further, please contact my office.

Re: real estate deeds

Transfering ownership in what is probably your largest assset should not be done without the advice of an attorney.

There are tax, mortgage, and ownership issues that must be addressed.

Re: real estate deeds

Bottom line: If you change ownership, even by "simply adding a name" then the balance of themortgage becomes immediately due and payable, in full. If this is not a problem, then the change/transfer of partial ownership is relatively simple. If this is a problem and you cannot pay off the mortgage immediately, then you will need more legal help than will fit in this answer. Consult with an attorney prior to taking any steps that could trigger a mortgage foreclosure.