Home Buying in 76109>Question Details

rglass, Home Buyer in New York, NY

What is the ramifications of buying 50% of my partners inherited home? I will be on the title and the mortgage.

Asked by rglass, New York, NY Wed Jul 31, 2013

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6
Thank you all very much for your insights. I'll will look to a real estate attorney for more information. Thank you again :)
1 vote Thank Flag Link Wed Jul 31, 2013
Why would you do this?
How would you do this?
If it is an inherited home why is there a mortgage...(can be I'm just asking)


On the face, it doesn't sound like a good idea to me.
0 votes Thank Flag Link Wed Jul 31, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Agreed - a real estate attorney will be best able to answer your question fully. For a list of local RE lawyers, check out this page:

http://lawyers.findlaw.com/lawyer/firm/Real-Estate-Law/Fort-…
0 votes Thank Flag Link Wed Jul 31, 2013
Depends on which half you bought!
Shared ownership often results in feeling like the south end of a north bound horse.
When dealing with situations that have real consequences. legal council is where you must turn first. Allow the attorney to ask the 'hard' questions that most of us would be hesitant to press on our partner. Let those who have experience being the 'bad guy' do what they know how to do.
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The outcome will be truly be an experience and educational opportunity you will want share with your friends. What you will learn will have other applications in regards to 'shared' partnership problems and perils.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Wed Jul 31, 2013
Definitely speak with a real estate attorney so they can explain all of the possible implications this will have on you and your partner going forward.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Wed Jul 31, 2013
Refer all your questions to an attorney

Lynn911 Dallas Realtor & Consultant
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http://www.lynn911.com 100's of Dallas homes listed for sale or lease

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0 votes Thank Flag Link Wed Jul 31, 2013
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