| Author | Message | ||
     Thumper74 |
Long story short, I have been paying the mortgage on my parents house since my dad passed in 2013. My mom has a house of her own and the plan is to purchase this house when we can, or pay it off and she 'gives' it to us. A family member has been in my mom's ear again lately. When dad passed, they sold the truck I gave to dad and I had to buy the Harley I gave him from the estate. In order to protect our interest in this house, what are our options? | ||
| Ratbuell |
Talk to the mortgage company ASAP, and document that you've been making the payments. Find out their suggestion as to how/when to best transfer it from her to you. I assume it isn't in any estate paperwork or in a will, the fact that it will become yours? Worst case, draw up a new version of her will stating she gives it to you when the time comes. | ||
| Shoggin |
Depending on the state, a Trust may be easier and cheaper for you. A consultation with an attorney would be your best bet for proper advise knowing the details. | ||
| Court |
See if you can put a TOD (Transfer on Death) provision in . . . . . . I've got that on a couple houses . . . . I'm off the hook now, but get them on death without any need to wade through probate. | ||
| Teeps |
Shoggin Posted on Monday, January 08, 2018 - Depending on the state, a Trust may be easier and cheaper for you. A consultation with an attorney would be your best bet for proper advise knowing the details. Plus 1; Do this Thumper | ||
| Prior |
We did a trust, which was relatively painless. We're young, but don't want any issues to arise if something happens to Heather or I and custody of our son goes to family. Some good information on why trusts are a good thing can be found at: http://fpm.org/individual-faq.aspx |
