You do this by preparing a new deed transferring a partial interest in the property to this person. However, you should understand the consequences of the transfer. Among them are 1) this person will own an interest and you will lose sole control of the disposition of the property; 2) the person will be entitled to proceeds from the sale of the property consistent with the ownership interest transferred, regardless of his/her contribution to the property; 3) a judgment entered against that person will be a lien on the property. I would recommend that you consult with an attorney before you change the deed to your home.
Answered on Mar 21st, 2018 at 1:33 PM