Adding Buyer to deed for contract-for-deed house

Adding Buyer to deed for contract-for-deed house by Judy Brown (South Carolina) on December 2, 2016 @08:19

I sold my mother-in-law's house that was left to me after her death to someone back in 2008 as a contract for deed. The yearly property tax increased significantly in the last two years since I don't live in it (my own taxes on my house are much lower) and my buyer (who has already paid the high tax for last year) wants me to add his name to the deed so his taxes will return to normal. Should I do this?

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Re: Adding Buyer to deed for contract-for-deed house by Steph (TX) on December 2, 2016 @09:47	[ Reply ]

How long is left on his contract? I wouldn't do it. Once you add him, you can't just come back later and take him off. He has to agree to it. So, if for whatever reason, he breaches the contract before it is fulfilled, he still has an ownership interest in YOUR property. What a headache. If he wants his name on the deed, have him get a traditional mortgage and pay you the full balance he owes you.

Re: Adding Buyer to deed for contract-for-deed house

Re: Adding Buyer to deed for contract-for-deed house by Anonymous on December 2, 2016 @18:56	[ Reply ]

Recommend you talk to a real estate attorney. This is not a property buying website. Where is the landlord tenant issue here?

Re: Adding Buyer to deed for contract-for-deed house

Adding Buyer to deed for contract-for-deed house - Landlord Forum thread 349515