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Buying with Partner |
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Good Morning, my domestic Partner and I are purchasing our first home. My (elias) credit was in the best shape, so my partners parents have co signed for us, thus they and my partner are buying the home. They are all in agreement, that the house should be in my name as well. What is the process of adding someone to the title of the home. How do we all do this? We close and get our keys at the end of the month (August). Please help? |
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I think you should all go together to a lawyer who specializes in real estate, and draw up some documents that preserve everyone's interests. I can forsee complications if the parents are not on the title but still bear personal liability for the entire debt. And if they are on the title along with you, problems like death of one of the owners, other members of that family with possible claims, liens, future medical costs for the parents, for instance. Get everything worked out in advance and set down in writing. The attorney can help arrange an agreement that's fair to everyone and heads off future problems. I would certainly do that before closing. |
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Edith
Originally published on August 17, 2008 |
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