Reply to Advice Needed - Buying Someone Out

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[quote=Anonymous][quote=Anonymous]OP here again. Thanks everyone for your responses!

Him and his sister's name is on the title currently, but I told him that if I move into the home that his sister's name would have to come off the title and mine would have to go on it, so I'm guessing if we live there for a minimum of two years the 500k exclusion would kick in.

I know selling the home now and splitting the profits is probably the best and easiest thing to do, but there's so much equity in the home right now and it's really close to being paid off so I thought it would be a good idea if we moved in there, sold the house after we paid it off, and then use the money from the sale to put a hefty down payment on a bigger home.

I don't know what to do. [/quote]

What you're saying is that the house is close to being paid off already, so just do what you outlined: sell it now and use that money for a hefty down payment. Take our advice - avoid all the potential problems from getting involved in this house. Things occasionally go smoothly but far more often go really, really wonky. Too many people, too much potential for drama and discontent. Protect your young marriage-to-be and your relationships with your future in-laws. Buy something new for you and FDH. [/quote]

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