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 Father transfer property shares to child, property transfer

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TSurylia
post Jun 12 2019, 10:33 AM, updated 7y ago

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Joined: Oct 2007
Hi all,

Would like your advise on this scenario.

My father and I had joint ownership of a condo, and the loan is under both of our names as well.
I am still servicing the loan.

Now, my father would like to transfer his share of the condo to me, thus making me have 100% ownership.

How can we proceed?
Do we need to engage with a lawyer?
Do I need to refinance with a new loan agreement?

Thank you. smile.gif

 

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