Transfer Home Ownership from Parents to Son

[cousinmose]

What is the name of your state (only U.S. law)? Michigan
My wife and I and my parents are listed as owners on the Title of our home in Michigan. We have lived here for 3 years, have made all payments for mortgage, insurance and taxes. We will be paying off the balance of mortgage this month. However, the mortgage through the bank is in my parents name only. How do we go about transferring ownership completely to my wife and I? What documents/process need to be completed? Should I pay off the mortgage first or is there something I should do prior to expedite process? I will also contact an attorney this week to ensure this is done properly.
Thank you for your advice.

 

[LdiJ]

What is the name of your state (only U.S. law)? Michigan
My wife and I and my parents are listed as owners on the Title of our home in Michigan. We have lived here for 3 years, have made all payments for mortgage, insurance and taxes. We will be paying off the balance of mortgage this month. However, the mortgage through the bank is in my parents name only. How do we go about transferring ownership completely to my wife and I? What documents/process need to be completed? Should I pay off the mortgage first or is there something I should do prior to expedite process? I will also contact an attorney this week to ensure this is done properly.
Thank you for your advice.

If you are going to be involving an attorney anyway, then just let the attorney handle it.