Friday, 20 February 2015

how much does it cost to add wife to deed of house and what other procedures by law in ny need to be considered

Question

how much does it cost to add wife to deed of house and what other procedures by law in ny need to be considered



Answer

There is a nominal filing fee to record a new deed. $17.00 + $5.00 per page. Check with your mortgage lender if you have a mortgage (they can't call your mortgage for this but it's still nice to let them know). That's all you need to do. Do a deed from you to you + wife as tenants by the entirety, record the deed and you're done.



Answer

In addition, upon the death of one spouse, it would automatically do to the survivor. No need for probate.



Answer

A new Deed is as Kevin states. This is a simple procedure. You need to decide how the new title will read - tenants in coomon (each owns one-half and can distribute it to whomever they choose when they die), or tenants by the entirety (like joints tenants with right of survivorship, in that the survivor owns all and can give it however they choose when they die. Some thought has to be made as to what to do, particularly if it was your house before you were married.



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