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Three Of Them Buying |
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Hi. I am buying a home with my brother and sister. There will be the three of us. I will be putting most of the money down and also will be paying more of the principal. All of us will be splitting the mortgage payment evenly. If I am paying more than everyone, who can help me make sure that I get my even share legally, as well as everyone else? |
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It’s not clear just what you mean by “paying more of the principal,” because principal payments are usually part of the monthly payment you plan on splitting evenly. In any case, the three of you should go together to a lawyer, who can help you figure out what would be fair to everyone. Decide also what you’d want to happen if one of you died, or had some change like a job loss, marriage or divorce.
Get everything settled in writing before you buy. Then the lawyer can help make sure the deed you receive is written in a way that sets things up fairly
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Edith
Originally published on July 6, 2006 |
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