Loan documents question

[Daniel Campo]

Hello,

So I may be inquiring a SFR from my parents. The SFR has no mortgage but my parents did get a HELOC from the property. They told me if I take over the expenses of the property I can have it. My question is, can I make the property under my name without having to do all the paper work of a loan. Or would I have to get a new loan to pay my parents loan and have my own loan that way?