A title is a document that proves that you own property such as a home or a car. When you have a car loan your lender will usually have the title until you pay off the loan. When you buy a home you’ll buy title insurance to make sure your home’s title is clear and there are no liens on it. The title insurance company will run a title search to find out. Learn about how to make changes to a title here as well.
Will Adding Child to Title Increase Property Taxes?
Will adding a child to the title of a property increase property taxes? A father wants to add his child to the title to his home, but his child is worried that this will increase property taxes. She might be worried about the wrong thing. Q: I was wondering if you might be able to [...]
Can Lenders Revoke a Mortgage Refinance?
Can lenders revoke a mortgage refinance if a relative takes her name off the title? When a co-borrower removes her their name from the title during the refinancing process, it can cause complications for the homeowner trying to get the loan. Q: Both my daughter and I are named on her mortgage loan and title [...]
Will Being on the Title of Your Parent’s Home Affect Your Taxes?
When a parent adds their children to the title of their home - and later sells that home - the tax implications for the children are complicated. Q: I read somewhere that what my mother did by putting her kids on the title to her home with her was wrong. How can the title be [...]
How to Replace a Missing Property Title
It’s important to have a property title in place before you can sell, even if it means hunting down or replacing lost documents. Q: We purchased our property (2.4 acres) about 20 years ago. The main house is a mobile home on a cement foundation. During the process of selling our property, we discovered that [...]
Abusive Mom Fights With Disabled Daughter Over Home They Both Own
In this email we received last week, an abusive mother is fighting with her disabled daughter, threatening to throw her out of the home they both own. The daughter wants to know if she can legally be thrown out of a home when she is on title and has helped maintain it and pay for [...]
Resolving Title Conflict Between Joint Homeowners
Resolving a title conflict between joint homeowners can be difficult and often emotional. This is especially true when one homeowner relies on the other for support. Q: My mother and I are both on the title to our house. The house is paid off. My mother is also abusive and I am disabled. She has [...]
Power Of Attorney And a Parent’s Home
When you deal with a parent's affairs, you should keep in mind that you might need to have two documents at hand to help them out. One document is a power of attorney for health care and the other document is a power of attorney over the parent's finances. If you have a power of attorney over the parents financial matters, make sure you understand what you should do and shouldn't do. You usually won't see problems with siblings and even parents if you use the parent's money directly for the parent's care and well being. But if you decide to sell your parent's home, you should make sure you have the right to do that and you should discuss the matter with your siblings and an estate planner.
Title Insurance Problems Arise When A Title Company Fails to Disclose An Association
What is the purpose of a title company? To avoid title insurance problems and issues. A title company's responsibility is to search the public records and inform the prospective homeowner about any issues and problems that affect the title of a property they intend on buying.
How To Sell Property With Multiple Owners
As you get older, in order to protect your property, you may want to transfer property titles to your children's names. When you transfer title to property before you die you may see your children fight about the property and whether to sell it. If your children feel one of their siblings is getting a free ride or cheating, the property situation could get ugly. To sell the property your children may have to involve a real estate attorney who can help with a partition lawsuit or enable swapping property.
Adding a Name to a Mortgage
It's not that simple to just add a name to a mortgage. To add your name to a mortgage, you would have to be one of the owners of the home. Depending on the reasons, it might not be necessary or beneficial to add a name to a mortgage loan.