Legal Question in Real Estate Law in Texas

Contract vs Deed

Currently our secondary home in Texas has My Wife, My Son and myself on the deed. Question on Lien holder My Wife and I are the only two on the home. Both my wife and I would like to have my Son and I on the contract instead of her name. My Son is currently living in the home. What can be done at this point.


Asked on 3/11/09, 2:20 pm

1 Answer from Attorneys
David Leon David L. Leon, P.C.

Re: Contract vs Deed

Your sign would have to buy or refinance the property in his own name to get the obligor changed. In other words, the mortgage company has a contract with Mom and Dad. They don't have a contract with Son, so they won't agree to take Mom and Dad off the hook. Son can get his own financing and buy the house from Mom and Dad, thereby removing them from the obligation to pay.

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Answered on 3/11/09, 2:51 pm


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