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Dimitry Esquire
Dimitry Esquire, Attorney
Category: Real Estate Law
Satisfied Customers: 41220
Experience:  JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin
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In California, My mom recently purchased a home under her VA

Customer Question

In California,
My mom recently purchased a home under her VA loan. Escrow has closed and is all done. She now wants to add my husband and myself on title. Will this effect her VA loan if we are not on the mortgage?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Dimitry Esquire replied 1 year ago.

Thank you for your question. Please permit me to assist you with your concerns.

Yes, this will affect the VA loan. The VA currently has a lien against the property, and until that lien is released, others cannot formally be added to title. If you want to be added to title, and formally added rather than just via a quit claim deed, you'd need to essentially convince the VA to permit it, or to refinance and in process add your names to title. But the VA has no reason to permit or release their interest against the title, so they won't allow your names to be added specifically because you are not on the mortgage.

Sincerely,

Dimitry, Esq.

Customer: replied 1 year ago.
a quit claim deed would suffice?
Customer: replied 1 year ago.
I mean,would a quit claim deed work to add us on, with her remaining as well?
Expert:  Dimitry Esquire replied 1 year ago.

A quit claim does not add your name to title, not in full. It transfers 'interest' in the property, but not ownership. While you can do that privately, and record it with your county office, it does not formally place you as owners. You are essentially receiving a percentage of interest that your mother would have in the property, but not actual ownership. Think of it as getting a share of stock versus real title.

Sincerely,

Dimitry, Esq.

Customer: replied 1 year ago.
if there is a quit claim, and we are on the Deed, than we claim the tax benefit of the interest if we are essentially making the payment? Can my mother assign us that write off?
Expert:  Dimitry Esquire replied 1 year ago.

Hi,

I am sorry but that is not a legal question but a tax question, and something that I am not qualified to answer with guaranteed accuracy. I would ask that you post this new follow-up question to our tax section as I cannot guarantee that my response to you would be correct.

Sincerely,

Dimitry, Esq.