How do i add my name to the deed of the house?

[Mark Matos]

Hello everyone. My father in law owns the house I currently live in. He owns it free and clear. We are planning on adding my name to the deed of the house so I can get a HELOC for investment purposes. I already found a bank that will do the HELOC as soon as my name in on the deed.

My question is: What is the best way to add my name to the deed? Keep in mind that my father in law's name will remain on the deed, but my name must be added to it.

Thanks y'all! 

[Kerry Baird]

I recommend you call and ask a title company or a closing attorney the question, as the amount of transfer taxes varies from locality to locality. However, adding you vs “selling” to you, might not result in the need for transfer taxes.