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Helping Daughter Buy |
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My daughter wants to buy a condo where she lives - San Jose. Real estate is expensive there and we are willing to help her out with $100.000 . Should we be co owners? does that mean our name is on the title? we would want her to have survivorship rights and we would want some share of the profit if she sells at a profit in the future but we don;t want her to repay the money - it is not a loan. what is the best way to arrange this? do we need a lawyer or just a realtor? |
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By all means, consult a lawyer who specializes in estate planning or elder law. You need just the right guidance in this, to protect your investment, be fair to everyone and achieve your goals. Lots of things need to be considered, and I just don't think I should go into some other questions that need answering, related perhaps to estate or income taxes.
Good luck to you and your daughter. |
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Edith
Originally published on October 30, 2007 |
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