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.

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In order to add someone to a mortgage, that person has to be listed as an owner on the deed. To get someone else on the deed, you have to refinance your mortgage. Because refinancing includes fees of potentially hundreds of dollars, you shouldn't take adding someone to the mortgage lightly. However, adding someone to a mortgage can be beneficial from the tax perspective and make taking care of a home in which you have an interest legally easier.

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     Contact your lender. Review your mortgage documents and ask your lender if it charges fees or makes the loan balance come due with a transfer of ownership. Get permission in writing from your lender to add someone to your mortgage and alter the deed.

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