What is the name of your state (only U.S. law)? Iowa
I am purchasing a house. My parents want to help me. They have offered to pay for the house (they have the means to do this).
They want to purchase the property in their name then have me pay them back over 5 years. The house would then be transfered to my name.
What are the issues with this? Tax consequences? Legal?
Is it better to purchase the house in my name and have a loan from my parents?