Skip to main content

How to go about rent to own with family and them staying in the home?

Father recently passed and my brother is trying to tell the rest of us what we should do with dads estate and my very ALIVE mothers estate. To me, thats kinda messed up….. I have talked with mom about buying her house just to tell him to go suck it. Of course i do not have anywhere near the money needed. I do not want to take out a loan. I have talked with mom about giving her a certain amount of money per month (for x amount of years or death, whichever is first) allowing her to stay there until death, (even if i have paid for it in full) with me paying taxes and her just paying her utilities.

How could we legally go about doing this so my brother cant try to screw me in the end. (he already said he was going to contest her will… hope he does cause there is a clause that said if contested, the person contesting would get the share of a dead person. meaning nothing) This brother has always been horrible to her. Tells her he will come fix something then ghosts her. Says he will visit, doesnt show up. Tells her he didnt know about family dinners, when we talk about them in group chats. He has already threatened to not be my brother anymore if he doesnt get his way. He is about 15 years older than me, moved out before i started school and was never around while i was growing up. Its like i really didnt have a brother anyway.

Im guessing lawyers should be involved. What do we say to them? Should we just put it in a trust? Or property transfer and give her a lifetime estate? I just dont want to pay her all of these years and him to come back and take it from me.,. We are in Tennessee if that matters.

submitted by /u/KittyHawk2213
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1kuzck7/how_to_go_about_rent_to_own_with_family_and_them/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more