Legal Question in Real Estate Law in New York

Hello, I had bad credit so we purchased my house under my parents name. All payments of any kind were made by me including the mortgage. I now want to prepay the rest of the mortgage and have the house put under my name. How would I even start going about doing this? Hope that is enough information to get a rough idea of what I need to do...

Thank you.


Asked on 5/13/10, 5:50 pm

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

If you have the income to satisfy the mortgage, you would 1. Obtain a payoff statement for the mortgage, 2. Prepare a deed from your parents to you, and 3. Close title by satisfying the mortgage while having your parents deed you the house.

I would also obtain title insurance concerning the transfer of title.

Mike.

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Answered on 5/19/10, 7:35 am


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