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Crazy Flamer
06-29-2008, 09:47 AM
About a year ago, I bought a house in SE Calgary. Because my credit sucked and I wasn't earning enough to maintain the mortgage payments in the bank's eyes, I had to put my mom on the mortgage and the land title.

I have now been living with my girlfriend for almost a year and since we are expecting twins, I would like to add her to the Land Title and mortgage. Since my credit still sucks I cannot remove my mom, she has to stay on.

But does anyone have any experience in this? I went down to the Land Titles office and they gave me a "Transfer of Land" form to fill out. However, that form seems to only transfer interests in land.

I know I could pay a lawyer to look into it, but if its just a matter of filling in a form, I would rather do it myself.

monkeyman
06-29-2008, 11:08 AM
not to seem like a jerk, but don't do it. I know things are good and you plan on being together forever, but if they don't... Adding her will only make things more complicated. keep it in yours and your moms name. That goes for credit and bank accounts too. Wait, at least until you get married.
just my opinion, i'm not a lawyer.
Congrats on the twins.

McMack
06-29-2008, 11:32 AM
Yah, but I'm guessing his new girlfriend is paying half of the mortgage or something (and has good credit and maybe even some money stashed away), in which case he's not in much of a bargaining position given that he had to get his mom to cosign his mortgage.

I'm not expert, but I'd guess you'd have to get a new mortgage, title transfer, the whole nine yards. There is probably another way to get her name registered against the property as some sort of second mortgage or encumbrance of some type.... You'd have to talk to a lawyer probably.

Cube Inmate
06-29-2008, 11:41 AM
I wouldn't try it without a lawyer, but my lawyers have always been free. My wife recently sold "her" house to "us" for the sum of "$1 plus other valuable consideration, namely love and affection." To make this happen, I had to sign some form to authorize her to sell her house to us because I was already living there, and therefore had some legal (although not on paper) interest in the house.

It's more complicated than it seems. I'm sure any competent lawyer could do it relatively easily, and without too much expense.

Addendum: we did the legal land transfer, and only later told the bank to amend the mortgage to include my name. No complaints yet...I can't see them complaining if you're ADDING more people who(m?) they can hold liable in case of default.

ricosuave
06-29-2008, 11:43 AM
if the said girlfriend has been living there for 6 months, she's already considered common law, so she is potentially entitled to half anyway, unless some sort of pre-nup was arranged.

monkeyman
06-29-2008, 12:36 PM
I don't think that's true rico. and not to derail this thread, i'll drop it.
Flamer, thinking about it, I don't think it's as easy as a simple document, especially with there being a mortgage and having other parties on the title. I think you'll have to get a lawyer.

MoneyGuy
06-29-2008, 02:29 PM
if the said girlfriend has been living there for 6 months, she's already considered common law, so she is potentially entitled to half anyway, unless some sort of pre-nup was arranged.

Not correct. There are different definitions of common law. They vary by province for this kind of thing and CPP's definition is one year. Most provinces, if I recall correctly, are either one or two years. I could check for you if the OP wants to know precisely the law in Alberta. It's probably one or two years.

Bottom line here is I would be very careful doing what is being considered. This is fraught with risk. Common-law relationships can be very dangerous. Here's an example: If you live CL with a partner who has children with a former partner, you can be legally on the hook for child costs for those children who are not your own if you act in the absence of the parent. Think about this; the financial risk is huge.

killer_carlson
06-29-2008, 02:39 PM
1) go to a lawyer. It won't cost that much for this.

2) check your mortgage. You'll probably need their consent as well.

metal_geek
07-01-2008, 08:27 AM
Don't do it, alot of risk no reward.


The process is excatly how Cube said it is, I had to do the very same thing to "Remove" someone from the title, and the bank is not so willing to remove someone from the mortgage.

Really there is nothing to gain by doing that, wait till you move into a new house with her, then just do it from the start. If she wants to feel included, just get a bunch of Visa's using her good credit and transfer all the bills into her name. :bag:
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troutman
07-01-2008, 10:02 AM
Check your mortgage terms and talk to your lender before changing title. If the lender has no issue (especially if you have gone a long time without missing a payment) it is easy to change title with a Land Transfer.

troutman
07-01-2008, 10:03 AM
Not correct. There are different definitions of common law. They vary by province for this kind of thing and CPP's definition is one year. Most provinces, if I recall correctly, are either one or two years. I could check for you if the OP wants to know precisely the law in Alberta. It's probably one or two years.

Bottom line here is I would be very careful doing what is being considered. This is fraught with risk. Common-law relationships can be very dangerous. Here's an example: If you live CL with a partner who has children with a former partner, you can be legally on the hook for child costs for those children who are not your own if you act in the absence of the parent. Think about this; the financial risk is huge.

Alberta has AIPs - adult interdepedent partners. I think the threshold is three years.

Take your stinking paws off me, you damned dirty aip!

http://www.law-faqs.org/ab/inter.htm

The term living "common-law” is no longer used in Alberta laws. The law with regard to common law relationships in Alberta has now been changed with the introduction of the concept of adult interdependent relationships. The new law is set out in the Adult Interdependent Relationships Act and has applied in Alberta since June 2003. The term living "common-law" is, however, still used in Canadian laws. For example, in order to call yourself "common-law" for income tax purposes, there is a time requirement of only 1 year (as opposed to 3).