Transfer title out of my parents name into my name
Your parents need to deed the home over to you. They could either do a quit claim deed (which only conveys whatever their interest in the property is to you) or a title company could prepare a general warranty deed, which would ensure the title was clear of any liens, judgments, or encumberances. Warranty deed would cost more, but would probably be worth the cost, especially when combined with owner's title insurance. You don't mention if the home is free and clear, but I am assuming there are no mortgages against it.