410-653-3400
100 Painters Mill Road Suite 200
Owings Mills Maryland 21117
Residential Title & Escrow Company Commercial Settlement Services, LLC

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The Ins and Outs of Adding Someone to Your Title

There are certain situations where it may become necessary to add someone to your title. Perhaps you purchased a home before you met the love of your life and now that you’re married you want to officially share ownership. Whatever the reason why you might want to add another person to the title of your home, it’s generally a fairly straightforward process. Learn what you need to know in today’s blog, below.

title

Adding someone to your title is most commonly needed when a couple gets married.

The Ins and Outs of Adding Someone to Your Title

How you add someone to your title will depend on whether you have a mortgage on your home or own it straightaway. If you own your home in full then you can add a second person to your title by using a quickclaim deed. Unfortunately, if your home is still mortgaged then it’s a slightly more complicated process as you need a loan modification.

Quitclaim deed

For people who own their homes outright, quitclaim deed forms can be found online, but it is much smarter to enlist the help of a title professional. You’ll need to fill out the form in front of a notary or witness and then the deed is filed with the office of your county register.

Loan modification

If you owe money on your home, you’ll need to seek a loan modification to add someone to your title. This process is similar to refinancing but is simpler and less expensive. The process adds the other person to your title and also adds them to the loan policy on the home. To seek a loan modification, contact the lender who holds your mortgage to find out about the process because it can vary between banks. They will be able to guide you on their specific policies, which will require a credit check to ensure the other person can be added to the title and loan.

At Residential Title & Escrow, we bring peace of mind to the settlement table. If you are looking for a title company to help you through the closing process, please contact us today! You can also fill out our simple online title request form and one of our knowledgeable representatives will get in touch with you promptly. Be sure to follow us on Facebook,Twitter, Pinterest, and Google+ to stay up to date.

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Residential Title & Escrow Company
100 Painters Mill Road Suite 200 Owings Mills, Maryland 21117
Phone: 410-653-3400