Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
“We live in Colorado & I want to add my wife’s name to our deed of trust. a 50 /50 situation. I’m assuming a quit claim deed is the way to go? Thanks for your time.”A deed of trust is a document, like a mortgage, which a lender uses to secure their loan. If you want your wife on the loan, you’ll need to talk to your lender.
Question: Assuming what you want is to have your wife on title to the property, there are a number of different ways that you can transfer a part interest in your property, and a number of different ways that you can hold that property. Depending on how you do it, there may be different effects, both from a legal and a tax perspective. For that reason, I would strongly suggest that you consult with an attorney to make this transfer. It should not be very expensive, but the attorney can let you know what the options are in your state, and more importantly what the effect of those options will be so you can select the right one for your situation.
