Here are some explanations:
"under certain circumstances" means that it's time for her and my brother to go elsewhere...I will no longer be providing shelter for them.
The only agreement was made verbally...basically, my brother makes a deposit of the mortgage amount into my account at the beginning of the month...he's been doing this for about 6 months...
My husband and myself no longer live there as of Dec of last year...because of disagreements, we had verbally agreed that my brother would pay the expenses.
Before then, I paid for everything since the purchase of the house in 1997.
Nothing of this arrangement is in writing...
**A: then Mother and brother are tenants paying rent in the same amount equal to your monthly mortgage payment.
In the event that the mortgage payment is much higher than market value rent based on rental comps, and they made payments of property owner expenses, they could make a claim for equity interest in the property.
*************
Down payment and any other monies was provided by myself...this past year was the only time that my brother paid for the property tax, school tax, and insurance...
**A: see above as taxes and insurance are property owner expenses and not tenant related expenses.
*********
Mom is not on the loan, nor my brother...I am the only person on the loan.
Is there something I left out?
Please advise.....thx.