Posted on: 17th Aug, 2012 04:59 pm
My husband is sick and cant work.We only owe a small amount on our mortgage.His father wants to pay it off to help us.But wants us to sign legal papers saying we will pay it back.And doesn't care how long it takes us.We have been in this house for 25 yrs and have a lot of equity in it.How do we protect our house, if for instance his father dies before the loan is paid off and it goes into inheritance estate? What kind of paper work would we need? And will his name be on a deed to the house since its paid off now?Or will he own it as we do? Its currently in me and my husbands name.Im so confussed as I havent seen the papers yet!
Hi pekaboo,
As far as paperwork is concerned, it will be better if you could contact an attorney and take his assistance in this regard. The attorney will be able to let you know what type of documents you will require.
Thanks
As far as paperwork is concerned, it will be better if you could contact an attorney and take his assistance in this regard. The attorney will be able to let you know what type of documents you will require.
Thanks
Hi pekaboo!
Welcome to forums!
I agree with James. You can contact a real estate attorney regarding this matter.
Sussane
Welcome to forums!
I agree with James. You can contact a real estate attorney regarding this matter.
Sussane