How to Add a Person to a Deed on Property With a Mortgage
It's not unusual for someone to add a spouse's or child's name to a mortgage deed. Including another person's name on the deed gives this person partial ownership of the property. This individual can make decisions regarding the property, and if you wanted to sell the property, this person would have to agree to the sale. Because a lender technically owns a property with a mortgage, you'll have to follow the lender's rules to add a person on the deed.
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Instructions
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Notify your home loan lender. Since the mortgage company technically owns the property, call the company and ask about the process of adding someone's name to the mortgage deed. Depending on the mortgage company, adding someone to the deed may also require you to refinance the mortgage loan, and both parties will become responsible for the debt.
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Contact your title company or a real estate attorney. If your lender does not require a refinancing, consult a real estate attorney or speak with the company that holds your mortgage title or deed. Inform the company or attorney of your plans to add a person to the property deed. The title company or attorney will prepare new legal documents, such as a quit claim deed or affidavit, to modify the original mortgage deed.
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Sign the new mortgage deed before a notary public. Schedule a meeting with your attorney or title company. Bring the person being added to the mortgage and sign the new documents to amend the deed. Your attorney or title company will record the new deed with the local county clerk's office.
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Tips & Warnings
If refinancing and applying for a new mortgage with both names on the loan, you and the other person will sign a new deed on the day of closing.
