Deed Transfer (first time)

[Ras U-Ahk]

So my farther is looking to transfer his property in New York City to me. The property is a single-family that has about $150,000 left on the loan and is currently worth over $500,000.

I have never done a "gift" property before and looking to have as much information as possible to completing the deal.

From looking at the into the property I would be looking to do a 15 year refinance mortgage at the remaining balance to get better terms on the loan.

Can anyone give me advice on how to do an deed transfer with a refinance?