About Marlon Doerre Expertise Texas Real Estate: Any real estate related question Involving the purchase/sale of real property; financing (residential) transactions; curing title; and closing of real estate transactions located in Texaas. Will not answer questions related to properties outside of Texas.
Experience Licensed Attorney, Mortgage Broker, Realtor and Escrow Officer. I have been curing title and closing real estate transactions for over 12 years
Education/Credentials B.S. Texas A&M University; J.D. University of Texas School of Law
Expert: Marlon Doerre Date: 4/16/2007 Subject: Purchasing property and title
Question I am in the process of purchasing a very large piece of land with my mother. I am also married and my wife and I will build our home on this property. My mother is the one getting the financing for the property (she will build there as well), though I will be the one paying for most of it. My mother and I want to put me on the title of the property to avoid any type of probate taxes when she dies. The mortagage broker is saying that since she is the one who has the mortgage, I cannot be put on the title. This does not sound correct. I do not see any reason why I could not be placed on the title as a joint tenant with a right of survivorship, do you??? Thank you.
Answer You are correct. Your mortgage broker is incorrect. There is nothing that prevents you from owning the property even though your mother is the one obligated on the note. Most brokers don't like to have other owners because it can complicate the process but there is nothing to prevent you from holding title to the land. If your mothers credit is sufficient, you could even be listed on the note with your income listed as $0.00. We do it both ways (whichever way the client prefers) at my company.
