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Your Money Now, Securities Consultant
Category: Finance
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Experience:  30 years experience in financial services. Banking, investments, mortgages, and retirement accounts. Appear frequently in media.
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Hi, if a person and their kid buy a property on their two names,

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Hi, if a person and their kid buy a property on their two names, and later after 2 years the kid wants to have the property for himself and on his name alone, what needs to be done. what laws govern this transaction, thanks

rakhivasavada :

Dear Friend, hello and welcome...

rakhivasavada :

To have one name removed, you will have to prepare one deed, properly drafted by an attorney, have it notarized and file.

rakhivasavada :

I shall point you to a very good resource will explain you these steps in a easy to understand manner.

rakhivasavada :

http://www.ehow.com/how_7687881_remove-name-real-estate-deed.html

rakhivasavada :

I hope this helps...

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rakhivasavada :

Warm Regards....

Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
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Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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A grant deed on the property to the children or any other person will in fact deed the property. However, if there exists a loan on the property, the lender may or may not accept the new "owners" responsibility on the note. This is generally the area of greatest concern.
Your Money Now, Securities Consultant
Category: Finance
Satisfied Customers: 18
Experience: 30 years experience in financial services. Banking, investments, mortgages, and retirement accounts. Appear frequently in media.
Your Money Now and other Finance Specialists are ready to help you