Legal Question in Real Estate Law in California

Adding name to new deed

We recently did a cash-out refinance on our house.

Since my son's current income did not qualify him as a

co-borrower, the new mortgage is in my name only.

Can his name be added to the new deed later? We are

making joint mortgage payments and in order for him to

make tax deductions for all house-related expenses,

his name must be on the deed, according to his

accountant. Is this correct?


Asked on 10/30/04, 9:51 am

1 Answer from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Adding name to new deed

Yes and no. His name must be on the deed according to IRS Code in order to deduct property taxes. If there is an agreement that he is a co-owner, especially if in writing (which you should have), he can take a deduction for interest that he actually pays, even if his name is not on the deed.

Puting his name back on the title is a simple matter. You just need to execute a new grant deed or quit claim deed from you to both of you in one of the forms of joint ownership.

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Answered on 10/30/04, 1:21 pm


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