How do I transfer Title to my name from a relative?

To transfer title, most likely a refinance has to take place.  Or if the property is paid in full then you can do it, however it may involve some legal fees to do so.  If you transfer title and there is currently a mortgage on the property, then you most likely will have to pay Sales Tax for the transfer that is probably dependent on the mortgage amount.  That’s why if there is a 100% own without a mortgage then there can be a gift transfer without paying the tax, otherwise there will be a tax assessed based on the amount of the loan; even though it is a gift transfer.

Tags: Title

Answered on Friday, Sep 19 2008 04:53 PM PDT

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