I am 64 years old and near retirement age. I want to transfer the property (house) to my wife and daughter. The property is currently owned by me and my wife. We are still paying mortgage on the house.
My question is that if I want to transfer the house to my wife and daughter, what are the steps required? What would be the easiest way? In transferring the house title, do I need to include my daughter in the mortgage and take me out of the mortgage?
1 Answer from Attorneys
Hello. For an attorney to assist you, she/he will want to know fuller details of your wishes and needs, and your full financial picture. As to debt owed on a mortgage, absent some odd agreement to the contrary, transferring a title does not act to end an existing obligation to a creditor.
Tricia Dwyer Esq
Tricia Dwyer Esq & Assoc PLLC