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Mortgage  Question?
Can property owner sign deed over to another person?

Can a property owner sign the deed over to another person and can a person have a percentage ownership of a home?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

As long as the property owner holds legal title, the owner can transfer 100% or a fractional interest in the property without consent of a third party. Most mortgages, however, have an alienation clause that allows the lender to foreclose on the mortgage in the event that 100% ownership of a property is transferred without lender approval.  As long as the full 100% ownership interest in the property is not transferred and the existing owner remains on the title in some form of fractional interest, then the alienation clause should not be triggered and the lender will continue to accept payment from the existing owner

To answer your second question, it is possible for someone to own a percentage interest in a property and that ownership percentage will be stated in the grant deed.

This is a legal matter and must be handled appropriately. A qualified real estate attorney should be able to guide you through these matters.

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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