Changing Mortgage Deeds: A Guide To Name Amendments

A house deed is a legal document that proves ownership of a property. It contains important information, such as the names of the current owner(s), a legal description of the property, and any conditions or rights that come with the ownership. When a property is sold or transferred, the deed is updated to reflect the new owner's name and information. A mortgage, on the other hand, is a financial loan used to buy a home. So, what happens when you need to change the name on your mortgage deed?

Understand the difference between a deed and a title

When buying a home, it is important to understand the difference between a deed and a title. While the two terms are related, they are distinct from each other.

A deed is a physical legal document that proves ownership of a property. It contains important information, including the names of the current owner(s), a legal description of the property, and any conditions or rights that come with the ownership. It is a tangible document signed by the seller, or grantor, of a property, and the buyer, or grantee, confirming the transfer of ownership. There are several types of deeds, each serving a different purpose and offering varying levels of protection for the buyer. For example, a general warranty deed guarantees that the seller is unaware of any property issues that might arise in the future, and ensures the absence of any outstanding mortgages, liens or other claims against the property. A quitclaim deed, on the other hand, is used when property is transferred without the exchange of money, such as between family members.

A title, on the other hand, is an intangible legal concept that establishes the owner's rights, including the right to sell a property. It is a bundle of rights that come with ownership, such as the right of possession, control and disposition. When a buyer receives a deed, they simultaneously take on the title to the property. A title search will identify any concerns with ownership, including ensuring the seller has the authority to transfer the title.

To own a home, you need both the deed and the title. When you receive the deed in your name, you legally transfer ownership of the home, and also take on the title. It is important to keep the name on the title up to date, especially if you plan to sell or take out a loan on your home.

Notify your mortgage company and insurance providers

When changing your name on a mortgage deed, it is important to notify your mortgage company and insurance providers. This ensures that all parties involved in the ownership and financing of your home are aware of your new legal name. Here are the steps you should take:

Contact your mortgage company

Firstly, call your mortgage company and inform them of your upcoming name change. Request any relevant information regarding the process and the documentation required. If you have title insurance, ask the insurer if you need to submit name change documentation. It is important to do this before you officially change your name.

Review your current deed

Before making any changes, review your current deed to understand how your name is listed and identify any other owners or liens mentioned. This will help you determine the specific alterations that need to be made. If you don't have a copy, you can usually obtain one from your local county recorder's office.

File a new deed

To officially change the name on your deed, you will need to file a new deed with your county recorder's office. You can use a grant deed or a quitclaim deed to transfer property interest to yourself under your new name. The new deed will be filed and recorded with your updated name.

Inform your lender and insurance providers

After filing the new deed, provide your lender and title insurance company with a copy of the updated document. Ask your lender if a name change notification is required for other mortgage-related services, such as private mortgage insurance (PMI). Also, contact your homeowners insurance provider to update your policy with your new name, ensuring consistency across all legal documents.

Notify local authorities

Finally, inform your local tax assessor's office of your name change to ensure that property tax bills and other official communications are correctly addressed to you. Remember that the process and requirements may vary depending on your location, so consulting a real estate attorney or a local professional can provide valuable guidance specific to your situation.

File a new deed with your county recorder's office

To change the name on a deed, you will need to file a new deed with the county recorder's office in the county where the property is located. This process can vary depending on your location and the complexity of the change, so it is recommended to consult with a real estate attorney or county official to ensure all legal requirements are met. The cost of filing a new deed typically ranges from $50 to $200, but additional fees may apply.

Before filing the new deed, it is important to review the current deed to understand how your name is listed and identify the specific changes needed. If you don't have a copy of the current deed, you can usually obtain one from the county recorder's office. Once you have the necessary documents, the filing process can be relatively quick, often taking a few weeks to a few months.

When preparing the new deed, it is advisable to seek the help of a lawyer to ensure it is drafted correctly. A deed typically includes the "consideration", or purchase price, as well as the names of the current owner(s), the legal description of the property, and any conditions or rights associated with ownership. If there is only one owner and they are unmarried, the title can usually be left blank, but it is beneficial to include a description such as "a single person" or "a widow".

After the new deed has been filed, be sure to inform your lender and title insurance company of the change. Providing them with a copy of the updated deed ensures that all parties involved in the ownership and financing of the home are aware of the new legal name. Additionally, you may need to notify other mortgage-related services, such as a private mortgage insurance (PMI) carrier, and update your homeowner's insurance policy to keep your policies in place and avoid any misunderstandings.

Provide proof of name change, e.g. marriage certificate, court documents

When it comes to providing proof of a name change, there are several documents you can use, depending on the reason for your name change. If you are changing your name due to marriage, your marriage certificate serves as legal proof of your name change. In some states, like California, marriage certificates may include a field labelled "New Names for Use Upon Solemnization of the Marriage", which indicates a name change. However, it is not mandatory to change your name when you enter into a marriage or life partnership.

If your name change is due to divorce, you will need a divorce decree or dissolution of marriage order. These documents are treated the same as a divorce decree for passport purposes. When using forms DS-82 and DS-5504, the divorce decree should specifically state that you may resume the use of your former name. If there is a general declaration, you must submit acceptable ID in your former name and documentation showing the origin of that name, using form DS-11.

For other name changes, you will typically need to file a petition with your local court. This may involve completing paperwork and appearing before a judge. You can then use a certified copy of the court order as proof of your name change. Remember to notify the Social Security Administration (SSA) early in the process, as other agencies learn of name changes through them.

Consult a real estate attorney for guidance and advice

Consulting a real estate attorney when changing your name on your mortgage deeds can be a wise decision, especially if your situation is complex. While it is not always necessary, seeking legal guidance can offer several benefits and ensure a smooth process.

First and foremost, a real estate attorney can help you navigate the legal requirements and paperwork involved in changing your name on the deeds. They will ensure that all the necessary documents are correctly prepared and filed, minimizing potential issues and delays. This is especially important if you are dealing with a complicated situation, such as a divorce or a change in marital status.

Additionally, a real estate attorney can advise you on the best method for changing your name on the deeds. One common approach is through a quitclaim deed, which is often the simplest and most cost-effective option. However, an attorney can assess your unique circumstances and determine if this is the most suitable method for you. They can also guide you on any specific requirements or forms that your lender may need, as well as how the name change might impact your mortgage.

Moreover, consulting an attorney can provide you with personalized advice and protect your interests. They can inform you of your rights and obligations throughout the process, ensuring that you make informed decisions. Real estate attorneys are familiar with the intricacies of property laws and can help you avoid potential pitfalls or mistakes. This can be particularly important if there are multiple owners or liens on the property, as the attorney can advise you on the best way to handle these complexities.

By seeking the guidance of a real estate attorney, you can gain peace of mind knowing that your name change on the mortgage deeds is being handled correctly and in compliance with all legal requirements. While there may be additional costs associated with hiring an attorney, the benefits of their expertise and support can outweigh the expenses, especially when dealing with a significant life change such as a name change.

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