Property Transfer

[Cutler]

I own property with two others in Florida;a condo. One has since passed away, the other would like to be removed as they have no interest in ownership due to age. What options do I have to have property remaining in my name and adding my husband.

ANSWER: You need to look into doing a "Quit Claim Deed" on the other two people.  Make sure you provide the death certificate of the one and have the co-operation of the other. Contact your title company that did the original transaction for more details of the process. Done correctly, this process should remove the other two people off the deed.  Then you can add your husband by refinanceing the property in your name only and adding the husband to the title.

---------- FOLLOW-UP ----------

Thanks so much;for the person that has agreed to come off do I need to just forward a letter of agreement and have them sign it or does it have to be a more formal type of document?

[Ellmelech]

It needs to be a quit claim deed drawn up by the title company, notarized by a certified notary public and recorded by the city in which you live.  Doing it this way makes it official and it clears the title so you can refinance it in your name.  Clearing the title is absolutely necessary for any real estate transaction including refinances.