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Feb 15, 2019
11:47:51am
StarMan All-American
When you say "Sell" to your kids...are they getting a mortgage or are you simply
conveying title to them? 1) If you own free and clear, you could just quit claim it to the kids. Anyone with a rudimentary exposure to real estate can pretty easily prepare and record a QCD. 2) If you still owe a principal balance on the home and they are either assuming that mortgage (pretty rare that mortgages are assignable any more) or your mortgage will be paid off at closing and your kids are obtaining their own mortgage, then you will need a title company.

If all you are doing is 1), then a title company is not really required, but they'll likely be a much cheaper option for preparing and recording the QCD. That is assuming you didn't put any liens on the property that your kids will need to worry about, so under this option you COULD convey without title insurance.

If you are doing 2), title company can help through the entire process, including issuing title insurance, which any mortgage will require.
StarMan
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StarMan
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