Legal Question in Real Estate Law in Pennsylvania

Re: Name added to deed question

The deed can be transferred to you. However, the mortgage is more complicated. I suggest you consult an attorney. The mortgage company would have to consent to you being added to the mortgage. Any transfer of title technically needs the mortgage company's permission because of language in the mortgage documents. If a property is transferred the mortgage company could call the mortgage because of the "due on sale or transfer" clause. Better to seek advice and assistance to achieve your goal.

Gerald Hershenson Esq.

Re: Name added to deed question

First, there seems to be a misconception about deeds. The deed that your father has conveyed title to the property from the Grantor (the person who sold the hose) to your father, the grantee. Once this deed is registered with the Registrar of Deeds it can NOT be changed. What has to happen is that your Father must execute a NEW deed with your father as the Grantor and you and your wife as grantees.

To do this you will have to purchase the property from him. You probably have to pay him enough to pay off the mortgage on the property. An alternative might be to see if the mortgage is assumable. That used to be common with FHA and VA back mortgages.

Should your father die with the current mortgage in place assuming there is no insurance to pay off the mortgage the bank will call the loan. If there is insurance than that will pay off the mortgage and the property will become part of your father's estate.

Bottom line: To get title you need to have purchase the property. For your to square it with the bank you have either pay off or if the bank will let you assume the mortgage.

{John}