Buying house from close friend strictly cash on monthly payments

[Nick Cox]

So a friend of mine bought a cheaper home with the thought of renting it out some day. He gave up on that and offered to sell me the house strictly cash. We don’t have a bank involved, we’re strictly on the honor system and I make monthly Payments. I do have my name on the deed with his. My question is when I do finish paying the house off in the next couple months what issues might I run into when getting the deed in my name. Does he just “gift” me the home or do I include my total payments to a title company I’d assume. I’m just not sure what to expect when it comes to getting the deed entirely in my name.