Know your rights ·

I am being asked to sign a deed or transfer ownership

General information for New Jersey, New York and Washington, DC · Last updated

Quick answer

Get independent advice before transferring ownership; a deed can change valuable rights without releasing a loan.

Do now

Identify the property, existing owners, liens, purpose, consideration, and proposed recipient. Review tax, estate, benefits, marital, and mortgage consequences with qualified advisers. Verify identity and signing requirements.

Watch for

A promise to transfer the home back later can be dangerous. Deeding property away does not automatically remove mortgage liability or protect it from creditors.

Official sources

CFPB — Foreclosure-Relief Scams, CFPB — Owner’s Title Insurance, US Courts — Chapter 7 Basics.

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