how do i sign my house over to another person?

Question

i am currently the only person on the loan for my house and i would like to sign it over to my husband how do i do that, if it can be done?

Answer 1

Need a release from the bank in some manner or fashion. Some states use a deed of assumption if the bank will let him assume the mortgage. Otherwise, if you deed out, you must pay off the mortgage, and at that point can do a standard warranty deed or deed of gift

Answer 2

My husband and I just did this. First, I contacted the Recorder of Deeds in the county we live and they explained the process. I then contacted the broker that did our mortgage (or a lawyer could do all of this for about $100) and the broker wrote up the paperwork saying that the house was going from his name into his and mine. Then, my husband signed it in the presence of a notary. That paperwork was sent to our Recorder of Deeds with a check...in our county it was $38.50. They processed the paperwork pretty quickly and I am now on the deed to the home. However, my name is not on the actual mortgage from the bank because I'm a stay at home mom and have no income. But, my name is now on the deed. It's a fairly easy process. Some mortgage companies offer this as a service for $100 also. Hope this info helps. If you want your husbands name on the loan as well, I'm not sure how that would work...he'd have to go through the credit approval and financing I'd imagine.

Answer 3

Don't do it!! I'll be a bit more plain than that: Don't even THINK of doing that!!

If he's not on the loan, he should NOT be on the deed. If anything should happen with your relationship he will legally own 1/2 of your home yet be responsible for NONE of the loan debt! (And if you do it wrong, he could own ALL of the home and NONE of the debt!)

I know that everything is wonderful and lovely between you two right now, but things can happen in the future. That's not to say that anything will happen, but please take it from someone who has "Been There, Done That, Got the T-Shirt" and been nearly burnt to a crisp financially.

If you are willing to share your home with him, he should be equally willing to share the debt with you. Re-finance the mortgage under both of your names and THEN add him to the deed. This way you'll be equal owners and equal debtors.

Answer 4

You can't sign over the deed (ie take it out of your name and put it solely in his name) because of the loan attached to it. You can possibly add him on with a quit claim, but most mortgage companies will not allow someone's name to be on a deed that isn't on the loan because that essentially gives somebody the rights to the property without them being liable for paying for it.

If you are wanting him to take over the loan, he will have to go through the loan approval process and possibly get his own mortgage on the property if the current loan is not assumable.

Answer 5

You can deed your interest in the property to anayone you choose by simply giving them a quit claim deed but that will not release you from responsibility for any mortgages or liens agains the property.