Home Buying in 90745>Question Details

hmdb85, Home Owner in Carson, CA

How do I take out the names of my parents on the title of the house, if my wife and my name is on the same title too?

Asked by hmdb85, Carson, CA Sat Nov 3, 2012

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9
Mack McCoy’s answer
Well, you don't.

A deed is a written document that transfers rights from one party to another.

Your parents are the only people who can take their names off the title, and they would do that by deeding - in writing - their interest in the property to you and / or your wife.

Transferring interests in real property can have serious consequences, and must not be done without consulting with an attorney and an accountant to determine whether you are following the proper course of action. Mistakes when transferring title can have enormous - by which I mean, "expensive" - consequences.
1 vote Thank Flag Link Sat Nov 3, 2012
You cannot TAKE their names off.

They would have to sign a "quit claim" to remove their names.

Kawain Payne, Realtor
1 vote Thank Flag Link Thu May 2, 2013
Thanks Mack! Really appreciate all the answers.
1 vote Thank Flag Link Mon Nov 5, 2012
That's fine, hmdb. They have to deed their interest to you. This really needs to be done in consultation with an attorney and an accountant.

All the best,
0 votes Thank Flag Link Sun Nov 4, 2012
thanks guys for your answers.... more info about this matter ... no loans are involve in the property... parents just wants to take their names out of the title of the property
0 votes Thank Flag Link Sun Nov 4, 2012
Though your question is simple it is really a complex situation you are wanting to deal with here.

I recommend you do some home work in order to avoid some legal issues which could bite your parents on their butt. For example If your parents are on the loan but you are not then you would not want to do this for it could trigger a clause within the loan documents which would allow the bank to call the loan.

There are other items to investigate so speak with an attorney to make sure you are making the correct moves to seek your end result. To often agents have answers to questions but do not perform their diligence on the issue or issues at hand by asking questions.

Good luck.
0 votes Thank Flag Link Sat Nov 3, 2012
contact a local escrow office. they will draft the Quitclaim Deed, they will notarize the signing, and they can have it recorded for you. They would typically be less expensive than an attorney.

Your parents will need to sign the document in the presence of a notary public.
0 votes Thank Flag Link Sat Nov 3, 2012
Good Morning,

James Sanchez has already given you the advice you need to proceed with the plan.
I could not add more as he already covered the steps, the repercussions and how the loan will not be affected should you decide to take your parents off the deed.

I should mention though that this requires your parents' consent or willingness to do so.

Good Luck
0 votes Thank Flag Link Sat Nov 3, 2012
Quitclaim deed... you can print one off line or even better and more expensive, have an attorney draft one up for you. This way you know everything is good and have it recorded. You might even want to talk to your tax guy to see how it would affect you or your parents. Also don't forget.... if there are any loans under your parents name or if they are co signers, then they would still be responsible for them. Even though they are no longer on title.

James
0 votes Thank Flag Link Sat Nov 3, 2012
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