QUESTION

We bought a home in Colorado for our daughter. She pays all the mortgage and fees for the home. We are hoping to have it transferred to her name.

Asked on Mar 23rd, 2013 on Residential Real Estate - Colorado
More details to this question:
What do we need to do to transfer it to her own mortgage and have it out of our name.
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1 ANSWER

Litigation Attorney serving Castle Rock, CO
3 Awards
Dianne, You can easily transfer ownership of the property from you to your daughter with a simple quit claim deed.   But, I think you are more concerned about how to get the mortgage out of your name and into hers.  If that is your concern you will either have to ask your bank to allow her to qualify and assume the loan or (most likely) you'll have to sell it to your daughter.  This sell would be as if to a stranger, you would complete a purchase and sales agreement which she would then take to the bank of her choice to attempt to qualify for a mortgage under their requirements. I hope this helps. Don Eby, 303-688-0944
Answered on Mar 23rd, 2013 at 3:08 PM

Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.

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