Posted on: 17th Apr, 2011 05:28 pm
i haven't talked to my sisters in ten years looking to buy my moms house, when my dad passed, away my older sister took over my moms banking, i just found out her name is in the deed, my mom has no idea about that, when i asked her, will that pose a problem when i buy the house or what about if my mom passes away then what
Hi mgwhite51 ,
Welcome to Mortgage fit,
In order to purchase the home from your mom,you need to take approval from both the person,one is your mom and second is your elder sister,as both of them are on deed.
If your mother passes away then her % share in the home will be divided amongst all her children.So if she (mother) holds only 50 % share at present you will be in big loss if you happen to get the possession after your mother's demise.
Feel free to ask any further query if you have...
DIPA
Welcome to Mortgage fit,
In order to purchase the home from your mom,you need to take approval from both the person,one is your mom and second is your elder sister,as both of them are on deed.
If your mother passes away then her % share in the home will be divided amongst all her children.So if she (mother) holds only 50 % share at present you will be in big loss if you happen to get the possession after your mother's demise.
Feel free to ask any further query if you have...
DIPA
Hi mgwhite,
As your sister's name is mentioned on the property deed, unless she signs the property deed, you won't be able to purchase the property or get it transferred in your name.
As your sister's name is mentioned on the property deed, unless she signs the property deed, you won't be able to purchase the property or get it transferred in your name.