If we have a house and want to give it to my daughter and her family since they are not able to get a loan but they will make the payments, is this legal?

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If we have a house and want to give it to my daughter and her family since they are not able to get a loan but they will make the payments, is this legal?

What do we need to do?

Asked on July 26, 2015 under Real Estate Law, Missouri

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Giving the home to your daughter is legal.

You can transfer ownership of the home to your daughter with a quitclaim deed.

A quitclaim deed releases your entire right, title, and interest in the property.  The quitclaim deed needs to be signed in the presence of a notary.  

After the quitclaim deed has been signed in the presence of a notary, it needs to be filed with the County Recorder's Office.  The quitclaim deed is effective upon being filed with the County Recorder.


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