my mother-in-law

[wlphill]

my wifeand i live in florida and the house we live in is in my mother-in-laws name.my wife and i own the property outright, but the mortgage is in "her" name.my wife and i have made every payment, put up all the money to buy the house too. my question is what happens to the house if "she" passes away. our credit is not good enough to get a loan in our name. my mother-in-law lived with us for the first 4 months we lived in it then she packed up and moved to another state and told the mortgage company they can repo it if they want. we have talked to them since( we have lived in the house almost 4 years) and they told us they don't care who makes the payments as long as they get paid.
is their anything we can do to put it in our name or a paper "she"
can sign giving us legal rights?

 

[HomeGuru]

There are several ways to deal with this. Have an attorney draft a purchase money mortgage or an installment contract.

 

[wlphill]

thank you for your reply homeguru, but would you explain what your two options are so i could understand. that way when we do go to an attorney i kind of know what is going on.
thanks

 

[HomeGuru]

Please do a search using those words.