If my name is on the deed do i own the property

Does your name on the the deed mean you own the the House? Is there a primary owner on a deed? Can you be listed on a deed? The property deed will include a description of the property and identify the grantor (seller) and grantee (buyer) for a particular transaction.

Both you and the buyer will need to sign the deed to seal the real estate deal.

A: Well, your question poses some intriguing questions. Your stepmother was able to sell the home without your signature so the question is whether your name was really on the title to the home or not. We see that quite often.

Yes and no, is there a mortgage on the property? If so you would have to refinance the mortgage or else your parents will still be responsible for it. Depends on the tenancy of the deed.

One that put your uncle in title to his interest;.

Owners Appear on the Deed. Under the law, all people listed on the property deed own the property. Learn the ownership implications of your name being on the deed of a home verses the financial responsibility of your name showing up on the mortgage. If the person holding the mortgage dies, do I own the property. Or, what if the person holding the mortgage tries to sell the property.

If you are married and your name is not on the title deed , you may have relinquished your ownership right. It depends on when your spouse acquired the property and where you live. In common law states, the key to ownership for many types of valuable property is whose name is on the title.

If you and your spouse or registered domestic partner take title to a house together—that is, both of your names are on the deed. The easiest way to grant your spouse title to your home is via a quitclaim deed (Californians generally use an interspousal grant deed ). With a quitclaim deed , you can name your spouse as the property ’s joint owner. Probate assets include sole ownership property , tenants in common property , or any other asset owned jointly.

Your relationship could possibly head south. Discuss property ownership interests. Speak with any co-owners to reach an agreement about which names will be removed from the title and why.

If removing your name , agree on your share of the property , who it will be transferred to and how the ownership structure is formed.

For a deed to be legal it must state the name of the buyer and the seller, describe the. The lender typically has a lien on the house, meaning that the spouse whose name is on the mortgage does not pay, then the bank can foreclose in order to get their money back. Your freedom to give away or leave that half-interest depends on how you and your spouse share ownership.

If you own the property in joint tenancy with right of survivorship or tenancy by the entirety, the property automatically belongs to. The other person transfers their ownership in the property to you by drawing up a new deed. Phrases and terms included in deeds can have serious effects, including possibly something you never intended. To make sure a property is smoothly transferred to the surviving spouse when one of two people whose names are on a deed dies, the language on the document should include some variation of joint tenants with right of survivorship. If the owner is selling to a third party stranger, as is often the case, the buyer will likely insist on a warranty deed.

The deed for the property can determine how to transfer the property to a surviving spouse. This process may be automatic, as in the case of property owned jointly with the right of survivorship. Or the process may be more complicate requiring the use of the courts and the probate process.

The new deed should include your name and address, the name and address of the decedent, the address or location of the property , the parcel number, if any, and a description of the property. That means, your sibling will own half the property plus his pro rata share of the other half along with you and any other siblings. An estate will have to be opened to probate these interests, and the property can be forced into sale in order to distribute the various interests in the property. The person you add owes no gift tax, but she shares joint property tax liability.

When you sign a quitclaim deed , you are immediately giving up any rights that you have in a property. For example, let's say that you and your spouse own a piece of property together. As it stands now, you and your spouse have an equal right to the property.

You may owe transfer tax. If the house was sol you would each be entitled to your share of the proceeds.