Legal Question in Real Estate Law in Rhode Island
Add a name to a mortagage deed
My mother wants to add my name to her mortgage deed in case anything should ever happen to her. How would she go about it? She already talked to the city and they told her she would have to go to a lawyer. Is there a form she could just fill out? Thank you
1 Answer from Attorneys
Re: Add a name to a mortagage deed
A mortgage deed represents the security for the remaining debt your Mom owes to the bank or other lender. I suspect that what she really wants to do is to "add" your name to the actual deed for the property.
While adding a party to a deed is a relatively simple matter, changing the ownership of the property may have some consequences under the mortgage terms. In addition, there may be estate planning and/or Medicaid issues that your mother should address. You should consult a local attorney to ensure that all factors are considered.
I hope this information is helpful to you.
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