What is the name of your state (only U.S. law)? New Jersey
HELLO wHAT IS THE LEGAL CRITERIA FOR SELLING A PAID UP HOUSE TO OUR DAUGHTER? WE NEED A RATHER LARGE SUM OF MONEY AND DO NOT WANT TO TAKE OUT A MORTGAGE IN THIS ECONOMY. OUR DAUGHTER HAS THE MEANS TO LEND THIS AMOUNT TO US. RATHER THAN MAKE A LOAN CAN WE LEGALLY SELL HER THE HOUSE FOR THE MONEY WE NEED?.WE WOULD REMAIN IN THE HOUSE UNTIL ONE OF US DIED AND THE REMAINING PARENT WAS TO LIVE ELSEWHERE WITH ANOTHER CHILD.OUR HOME IS VALUED AT $250K CAN WE SELL IT TO HER FOR 50K...
HELLO wHAT IS THE LEGAL CRITERIA FOR SELLING A PAID UP HOUSE TO OUR DAUGHTER? WE NEED A RATHER LARGE SUM OF MONEY AND DO NOT WANT TO TAKE OUT A MORTGAGE IN THIS ECONOMY. OUR DAUGHTER HAS THE MEANS TO LEND THIS AMOUNT TO US. RATHER THAN MAKE A LOAN CAN WE LEGALLY SELL HER THE HOUSE FOR THE MONEY WE NEED?.WE WOULD REMAIN IN THE HOUSE UNTIL ONE OF US DIED AND THE REMAINING PARENT WAS TO LIVE ELSEWHERE WITH ANOTHER CHILD.OUR HOME IS VALUED AT $250K CAN WE SELL IT TO HER FOR 50K...