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Chad Lanting
  • Rental Property Investor
  • Escondido, CA
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Add Someone to Title without Obtaining a New Loan

Chad Lanting
  • Rental Property Investor
  • Escondido, CA
Posted Jan 26 2022, 15:19

Not sure if this is possible: I am looking for ideas on how to legally add someone (or an LLC) to the title of a property without necessarily having to obtain a new loan.

The background: My partner currently owns a property in his name and is the sole person on title. Going forward, we have arrangements to run the property as a 50/50 partnership. We would most likely hold title in an LLC which we are 50/50 owners of.

Since the terms of the loan my partner already has are good, we are investigating if there is a way to add me to the title (or put the property under the LLC) without obtaining a new loan.

From my limited knowledge and initial reading, it seems like adding a non-family member to title can initiate the acceleration clause where the loan would be due.

Any input is appreciated.

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