Ok, thank you for clarifying. Yes, I figured most likely that case I heard of would not apply to us, but I just wanted to make sure. It sounds like having mom partial owner may be enough and won't require expensive legal fees like if we were to come up with a post nup. Still I think we will...
I honestly believe we will have a good chunk of equity right off the bat. First off there's a 20% down payment, plus the sweat equity I mentioned. My day job is a cabinet maker, so I will be providing about 20k value worth of cabinets for roughly 3k in material. On top of that I will be building...
You're absolutely right, I would never expect them to live together. Maybe I should have been more clear about "separate living space for mom". This will basically be a duplex. Completely separate living spaces, separare entrances, the 2 of them could go 10 years without talking if they want to...
The issue with mother owning house is, i am the only one with good enough credit for this mortgage. I definitely want to think this through before we move forward, I just don't know what options there are.
We also need to consider lawyer fees. We are already on a tight budget for this house...
I'm actually happily married and not looking to divorce, but there's some things I need to consider as we move forward with our plans and I'm looking for advice. My family of 3, myself, my wife, and her daughter are renting for 800 a month currently. My mother also rents her own apartment for...