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How to Add a Name to a Mortgage Title

There are many legitimate reasons to add a name to your mortgage title or property deed.

You may want to add your spouse, you intend on selling the home, or you need to add someone to borrow against the equity of the home. However, you still need to retain control of the title--otherwise, you might lose the home.

You do not want to transfer the title accidentally or provide someone with a "temporary" hold on the title.

Make sure you only add someone to the title with you. Thereafter, you can then add that person to your mortgage.

Doing so however, is not a straightforward process. The mortgage company or bank may have certain policies and procedures, or demand certain requirements in order to add someone to your property title; it might not even allow the adding of another party to your mortgage.

Contact your bank or mortgage company and inquire about the process and requirements to add someone to your mortgage and property title. Since you have a mortgage, you do not actually own the home--your bank owns it. The bank likely has a policy that demands full payment of the mortgage if you want to change the name on the property title. The application of such policies though, does vary among financial institutions. Inquire whether that policy applies to adding another person to the property title.

Call the title company that holds the deed to your property and find out what the company requires to add someone to your mortgage title. The title company insures the property deed, and usually adding someone to a mortgage title will involve paying fees to the title company. Such fees will include any taxes at the local and state level, research fees, insurance costs and fees paid to the county clerk's office.

Consult with a qualified real estate attorney if the bank informs you that it will allow you to add someone to your property title and if the title company clears you to do so. A qualified legal attorney will ensure that you retain your rights to the property when adding a party. Adding someone else to the mortgage title could call into question the party that actually owns the property and cause problems with taxes. Using a qualified real estate attorney will help ensure the process is completed properly, reducing the risk of disputes related to the property ownership.

Contact your bank once you add the other person to your property title. The bank will then provide you with the paperwork required to add the other person to your mortgage. Keep in mind, however, that this will not be a simple process. This will involve a refinancing transaction, and the other person will have to qualify according to credit criteria.