Legal Question in Wills and Trusts in Wisconsin

can you add anyone to a mortgage and deed

in wisconsin?


Asked on 6/14/12, 12:23 pm

1 Answer from Attorneys

JAY Nixon nixon law offices

Yes, with the consent of all parties who have any ownership interest in real estate and all lienholders, it is possible to add anyone to mortgages and deeds (by "deed," I assume that you are referring to some sort of ownership interest in the title to real estate. However this is determined by many things other than just deeds). That is not to say, however, that this is easy to accomplish or a good idea. My experience is that mortgage lenders are generally not interested in doing this, particularly if that also means releasing others from a mortgage loan (which almost never happens, as a practical matter, until the loan is paid in full). However, subject to the mortgage, owners always have the ability to deed part of their interest to others. Every time this is done, however, it creates a new complication in your title which can end being difficult if not impossible to unravel, particularly when the person added passes away or has legal or tax problems of their own. Despite what many people seem to think these days, real estate transfers are not a "do it yourself project," and the current fad of self-drafted deeds is creating many real estate titles which may end up becoming unmarketable, with expensive consequences once someone finally decides to straighten things out prior to an attempted real estate sale, etc. If you are considering this, you should therefore first consult with an experienced real estate lawyer. Please be aware that my responses to you in the public web forum do not make me your attorney and that I am not representing you or taking any action on your case. These answers are intended for public educational use only. Regardless of this, however, you are still welcome to contact me during business hours at my in Racine if you still have questions.

Read more
Answered on 6/15/12, 5:23 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Wisconsin