Expert: Dick Dennis - 5/26/2011

Question
My partner & I (2 unmarried women)are refinancing our home. We want my partner's mother on the title but not on the loan. Bank says we can't do this that she must also be on the loan. Is this true? And why? Does it apply if we were a married couple?

Answer
The bank is full of beans, Kim. It is very simply done this way: After you get your loan with your partner and you are recorded on title and everything has settled down, you and your partner create a warranty deed (any time you choose), each of you giving her mother the interest in the title you select. You bring that newly created warranty deed to the county recorder and have it recorded. The bank probably will never know.

Simple as all that, Kim. However, I recommend you consult with a good local real estate attorney to make sure there is not a better way of accomplishing what you are trying to accomplish. I do wish you well.

Dick Dennis
dixiedee13@aol.com