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Ask Maverick Your Own Question
Maverick, Lawyer
Category: Real Estate Law
Satisfied Customers: 5749
Experience:  20 years professional experience
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Bart, I need to add someone to the tile of my home so that

Customer Question

Hi Bart, I need to add someone to the tile of my home so that it will hopefully help me to refinance. What do I need to do?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: arizona
JA: Has any paperwork been filed?
Customer: no, I couldn't get that far. :(
JA: Anything else you want the lawyer to know before I connect you?
Customer: I don't think so, thanks so much
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Maverick replied 1 month ago.

Welcome! My name is***** give me a few minutes to analyze and/or research your inquiry and I will be back.

Expert:  Maverick replied 1 month ago.

Did you want to wait for Bart or should I assist you?

Customer: replied 1 month ago.
You would be great. I'm not sure what happened.
Expert:  Maverick replied 1 month ago.

So, you do not necessarily need to add someone to the title to your home to get refinancing. For example, if your dad said he would help cosign on the refinanced loan that you are seeking, then lender could still go forward with the refinancing without adding your dad's name to the loan.

If the person that is wanting to help with the refinancing is demanding that you add their name to the title then you first need to have a written agreement with them to that effect that states that at the time the loan is approved and accepted by the two of you, you will, at that same time, add his/her name to the title so that you are both 50-50 owners of the property. You and this person can write up something to this effect and date it and sign it.

Then, to make the actual transfer you would use a form such as this where you are the grantor and then you AND he/her are now the grantees. Then you would record/file this in the county deed records.

Here is another example.

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Customer: replied 1 month ago.
I was told that, due to my low credit (567), I needed to have (my mom) on the title for 6 months before I can try to qualify to refinance.
Expert:  Maverick replied 1 month ago.

This simply is not true; unless the particular lender you are using has such a policy. Other lenders may not have this same requirement as, generally, getting a loan for a house or a car or anything for that matter has nothing to do with who actually owns the property.

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