Can anyone tell me a little more about Gift Deeds as it pertains to someone living in California? Can you just gift a property to someone close to your or relative? Or do they still have to qualify for the amount of the property or owed on loan?

You might want to check with a real estate attorney in your state, but I don't think you can gift away property that has a mortgage; that might be considered "due on sale", meaning the full amount of the loan would be due if property is deeded away. If there is a mortgage, check to see if it is assumable.

Gifts of equity are common among family members. You would need to qualify for the financing of the remaining balance owed along with closing costs, pre-paids and appraisal even if the mortgage is assumable.

Easier way is to put the property into a Land Trust and then make the person you want to gift it to the beneficiary! They can then just pay the mortgage till they would like to refi the property.

Only a few states allow the creation of Land Trusts.

Is a good idea though...