Expert: Dick Dennis - 11/24/2008

Question
My husband and I moved into his family home after we got married, we paid his father monthly for the past three years.  We have now paid him the amount that we agreed upon to purchase the house, but we don't know how to transfer the house into our names.  What would be the easiest and least expensive way to do this?

Answer
The least expensive way of conveying title is with a quit-claim deed. But you must be very careful before you do it that way. Your father-in-law just might have a lien or two against the property in his history of owning it. He may have forgot about it. But if you have a title company handle the transfer and give you title insurance, then you know you are pretty safe. And that way, you'll probably take title with a Warranty Deed or Grant Deed, depending upon the state the property is located.

If you choose to take a chance and do it the least-expensive way, you would fill out the quit-claim deed similar to: "John Smith hereby conveys full and complete title to the property located at 1234 Main St., Anytown, Anystate to Bill and Rochelle Jones." Then you have to get the signed and notarized quit-claim recorded at the county recorder's office. But be warned: Should there be any kind of liens or encumbrances against the title of the property, YOU would be reponsible for paying it if you later discover there is a lien. I wish you well.

Dick Dennis
dixiedee13@aol.com