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Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 100029
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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I live in Vernon, Connecticut and I would like to add my mother

Customer Question

I live in Vernon, Connecticut and I would like to add my mother to my house deed registered with the town to be able to get refinancing in her name as I have bad credit due to a recent bankruptcy and foreclosure on an old house we used to live in. What process and documents need to be followed and filled out???
Thanks
Jose
Submitted: 7 months ago.
Category: Real Estate Law
Expert:  Ely replied 7 months ago.
Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. Jose - before you add her name to the deed, someone in your situation wants to check with the lender and ask if adding her name to the deed will cause an acceleration. Many lenders have a clause in the mortgage contract that states that if you add someone without the lender's permission, then the lender can accelerate the contract, meaning it would all be due at once. If the lender does not mind, someone in your situation can simply quit-claim half of one's interest to her. See form HERE. Then you can pursue a refinancing with the same lender that holds the mortgage now, or, whatever lender you choose. If the lender minds, then someone in your situation wants to seek refinancing before adding her to the quitclaim deed. Refinancing documents are unique to whatever lender you work with. I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.
Customer: replied 7 months ago.
I currently own the house outright and there aren't any existing loans or financing on the property.
I bought the house cash with my 401k money almost 2 years ago. But since I declared bankruptcy over 3yrs ago and the house we used to live years ago just got foreclosed on this past January I was told that due to Federal Lending Regulations I would have to wait 3 yrs before I would be able to get financing for the property. But I was told that if I added my mom to the deed, she could get financing in her name. So with that I what forms and wording do I have to put in the paperwork to register with the Town Clerk I'm assuming???
Expert:  Ely replied 7 months ago.
Ah, okay. So just to clarify, you want to add her to a home to which title you hold free and clear, correct?
Customer: replied 7 months ago.
Yes, I own the house free and clear. But I wanted to add her to the dead without it showing any percentage ownership! Just what would be adequate to get financing in her name!
Expert:  Ely replied 7 months ago.
Right. This would be a quit claim deed. Link is HERE. This is recorded with the town clerk in which the property is located. However note that one has to be clear that she is being added to the title, and that she is not receiving the full title. There is no other paperwork that should be required. Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.
Customer: replied 7 months ago.
Also should I set up any separate paperwork to show percentage of ownership???
Expert:  Ely replied 7 months ago.
The quitclaim deed itself, properly executed and filed, is all that should be needed. You already own the title. There is no need to create more documentation for proof of this. It is in the deed records. The quitclaim deed simply helps to give part of it to her. Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.
Expert:  Ely replied 7 months ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!

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