Legal Question in Real Estate Law in Pennsylvania
Adding a name to an existing Deed
I own a house for which the Deed is now in my name only. I want to add my ex-husband's name to the Deed for personal reasons and as I have worked for a layer in the past, I plan to type the Deed myself using a property description, etc. from the Deed in my name and have it recorded. What is the best wording for the Grantees? Tenants in Common, Joint Tenants?, or another term? We wish for the property to default to the other if one dies though we are legally divorced. Thank you.
2 Answers from Attorneys
Re: Adding a name to an existing Deed
Please keep in mind there will be a transfer tax due as a result of your divorce. I suggest you consult legal counsel to prepare the deed. However, if it your desire for your former husband to succeed in title after your death, I suggest joint tenants with right of survivorship. I strongly recommend that you draw a will and leave the property to him. By tranfering the title you will restrict your ablilty to borrow and lose toom much control by placing the property in his name. Transfering title could prove a costly mistake. Gerald Hershenson 215-579-9390
Re: Adding a name to an existing Deed
Spend a hundred dollars and let a professional draft the deed, you wouldn't perform open heart surgery by yourself, what makes you think you can draft a deed without any experience or examples? Do you have title insurance currently on your property if so drafting an incorrect deed may cancel your policy...do you know you also might owe transfer taxes...contact a professional or suffer the consequences, your choice.