Colony Title Associates

How-to: Add Someone to Your Title

Sometimes in life people will find themselves in a situation where they would like to share their home’s title with another person. The most common instance of this would be the result of two people getting married, one of whom already owns a home, and wanting to share that home’s title with their new spouse. Adding another person to your title is usually a relatively straightforward process, mainly hinging on two different factors.

Mortgage or Owned?

The first thing to know is whether or not you own your home outright, or if you are still paying off a loan on the home. If you own your home, you can use a quitclaim deed to add another person to the title, giving them an interest in the property. If you still owe on the home, you will need a loan modification, which is a slightly more difficult task.

Loan Modification

The loan modification process is slightly similar to refinancing your home, albeit less expensive and easier to accomplish. This will however allow you to add another person onto your title, and also include them in the loan for the home. The first step is to contact your lender and ask about their process for a loan modification. If they agree, you will need to send them all the information for the person who will be added to the loan. They will conduct a credit check to determine if the other person is eligible to be added onto the loan and title.

Quitclaim Deed

A quitclaim deed is a much simpler process than a loan modification. Pre-printed legal forms are available online, but the best option is to go through a professional. The process involves filling out the form with a neutral third-party witness, and possibly a notary to observe the signing of the document. The deed should then be filed with the county register’s office.

About Colony Title Associates

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings in Washington DC and the Delmarva area every year. The founder Tee Tillman has over 23 years of experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers.

Colony is the preferred choice for many real estate brokers in the Maryland area. If you have any questions concerning issues that title insurance protects you from, or would like more information on how to add someone to your title, feel free to contact us at 410 884-1160 or visit ColonyTitle.com today!