How to gain rights of suvivorship to property

[SFlSportsFan]

What is the name of your state (only U.S. law)? Massachusettts

My single and childless aunt had the opportunity to buy a foreclosed property for a really great price. She had no available cash at the time. I gave half the cash of the purchase price and some additional funds for closing costs and renovations.

Our agreement was that upon her death, I would gain 100% control of the property. Until that time, I don't need any rental income nor am I responsible for making the monthly mortgage payments (which are really small).

What do we need to do now to put this agreement into effect? Do we need to add this to her will? Do we do a deed? I am about to seek legal advice but wanted to see what advice I could get on this forum.

I have heard the will option, as well as a quitclaim deed.

[nextwife]

Originally Posted by SFlSportsFan

What is the name of your state (only U.S. law)? Massachusettts

My single and childless aunt had the opportunity to buy a foreclosed property for a really great price. She had no available cash at the time. I gave half the cash of the purchase price and some additional funds for closing costs and renovations.

Our agreement was that upon her death, I would gain 100% control of the property. Until that time, I don't need any rental income nor am I responsible for making the monthly mortgage payments (which are really small).

What do we need to do now to put this agreement into effect? Do we need to add this to her will? Do we do a deed? I am about to seek legal advice but wanted to see what advice I could get on this forum.

I have heard the will option, as well as a quitclaim deed.

Holy smoke.

Shouldn't you have set this all up BEFORE she closed on the purchase?

[HomeGuru]

Originally Posted by SFlSportsFan

What is the name of your state (only U.S. law)? Massachusettts

My single and childless aunt had the opportunity to buy a foreclosed property for a really great price. She had no available cash at the time. I gave half the cash of the purchase price and some additional funds for closing costs and renovations.

Our agreement was that upon her death, I would gain 100% control of the property. Until that time, I don't need any rental income nor am I responsible for making the monthly mortgage payments (which are really small).

What do we need to do now to put this agreement into effect? Do we need to add this to her will? Do we do a deed? I am about to seek legal advice but wanted to see what advice I could get on this forum.

I have heard the will option, as well as a quitclaim deed.

**A: quit claim deed joint tenancy. Seek legal counsel.