Reply to Thoughts on buying a house with my mother....

Forum Index » Money and Finances

Reply to "Thoughts on buying a house with my mother.... "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]My mother is retiring this year and has asked if my husband and I would go in with her to buy a home that has a MIL suite. She no longer wants to live by herself, but she wants to still live in a house with a yard for her dogs. She's going to put down a 65% down payment and we will take out the remaining mortgage. All three of us will be on the deed for the home and the mortgage, but my husband and I would pay the mortgage, taxes, home insurance, and utilities. My mother would basically be living expense free. She said that she would leave my husband and I the house in her will. This is a home that we would not be able to afford purchasing on our own in a very nice area, so I believe it is a good investment. We will also be able to keep the money we will get from selling our current home which will be around 30k. My husband and I get along very well with my mother and I am happy to live with her as long as we both have our own space. I do have siblings though and I just want to make sure the home would go to my husband and I free and clear if anything happened to her.  Thoughts and concerns? [/quote]

Why does her name have to be on the house at all?  Can't she just give you the money and the house goes in your name and your husband's with the understanding that she'll live in the MIL suite?  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics