That is quite an ingenious way to get around the no rental clause but it may cost you money and ownership down the road. It also may be against your contractual agreement with the lender if you have a mortgage on the property. By deeding him half of the property you give him ownership with out liability (the mortgage) and you would have to look at the rules of the HOA to see if it would violate the agreement you have now. If approval for ownership is necessary that would be a way for them to block your putting this plan in to motion. Fees vary from state to state but understand that there are recording fees for a deed besides attorney fees in preparation. Good luck.
Rate This Answer:
Not Yet Rated
The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you go to AttorneyPages.com
and retain an attorney to represent you.