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Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 5543
Experience:  28 years of experience in general practice, real estate law and estate law.
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I bought a house in 1996, before my partner and I could

Customer Question

I bought a house in 1996, before my partner and I could legally marry, something which we did in 2013. His name is ***** ***** the deed, but I have been told that a simple "Transmutation Agreement" can correct that. (However, I have since converted my note to a reverse mortgage, for which he does not qualify yet by age. Are these two separate issues, and if so, do you have any advice about how to get him on the deed?) The REAL GOAL here is to increase the amount I can deduct for capital gains if I sell from $250k to $500k.
Michael A. Kroll
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 6 months ago.

Welcome and thank you for your question. Is this California?

As far as the mortgage there are clauses that can impact the loan if the title the changes, I have never seen these exercised. These are two separate issues as I don't see the need to add him to the reverse mortgage unless that is important to you. If that is the case you would need to work that out with the lender.

Expert:  Attyadvisor replied 6 months ago.

A transmutation agreement in a grant deed can add his name to the title. I was going to provide forms for you if you could provide the location of the property. I could also provide a link for attorneys in your area that prepare these agreements and provide free consultations.

Please do not hesitate to ask me any additional questions that you may have with regard to this matter. If you would be kind enough to rate my service so I mat receive credit for my work I would appreciate it. Thank you for using JA!

Expert:  Attyadvisor replied 6 months ago.

Did you have any additional questions for me?

Expert:  Attyadvisor replied 6 months ago.

Please ignore the Premium Services Offer.

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