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Reply to "Possibly buying a house with my mom....future financial considerations?"
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[quote=Anonymous]If you rented out your mom's current place, some of it could go towards the higher mortgage you'd be paying for the bigger house with the in-law suite, and the rest could just be your moms, going into one of her accounts for her own purposes. Then that leaves all assets in her possession, her name, and her will can divvy the assets up however she intended to anyway. If her monthly mortgage would only break even with the rental income, then that's a no go and maybe your mom needs to sell it in order to move in with you. In that case, you & your mom sort out how much equity your mom should put into your new house (presumably she'd be on the deed or something if she's contributing a large chunk), and she puts the rest of the money from selling her house in an account for her to use for her own purposes.[/quote]
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