Detailed Answer
Under Georgia law, simply making mortgage payments does not give you legal title to the property. Georgia courts require a valid deed to transfer ownership. Mortgage payments alone amount to satisfying debt secured by the home, not acquiring an ownership interest.
How Georgia Deeds Convey Title
O.C.G.A. § 44-2-3 mandates that any transfer of real estate must occur by deed, signed, delivered and recorded. Without your name on the deed, you hold no legal estate in the property. Recording a deed protects buyers from hidden transfers (O.C.G.A. § 44-2-3).
Equitable and Trust Remedies
Even if you lack legal title, Georgia courts may recognize an equitable interest if you and the title owner agreed you’d acquire ownership by paying the mortgage. In such cases, you can ask a court to impose a resulting trust or constructive trust. A resulting trust arises when one person pays purchase or mortgage costs but title is taken in another’s name without intent to gift. You must prove the arrangement and your contributions.
When Co-Ownership Arises
If your name appears on the deed as a joint tenant or tenant in common, you acquire an ownership share regardless of who makes mortgage payments. Joint tenants share equal interests with rights of survivorship. Tenants in common hold distinct shares, which they can sell or bequeath.
Steps to Protect Your Interest
If you expect an interest, secure your rights in writing before making payments. Use co-ownership agreements or ensure your name is on the deed. Maintain clear records of all payments and communications. Consider title insurance to protect against future disputes.
Helpful Hints
- Insist on a deed conveying the ownership share you expect.
- Get written co-ownership or repayment agreements.
- Keep detailed records of mortgage, insurance and tax payments.
- Consider title insurance to guard against undisclosed claims.
- Consult a real estate attorney early to draft or review agreements.
Disclaimer: This article is for educational purposes and does not constitute legal advice. Consult a licensed Georgia attorney for advice tailored to your situation.