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Mortgage question

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joepar2567

Junior Member
I plan on "investing" in a house my daughter is going to buy in Colorado by providing a 20% downpayment for her loan. This would be $30,000 or more.
We have agreed that I will share in the equity when the house is sold or refinanced. I am not concerned with her "handshake" part of the deal.
I am interested in finding out how I can protect my "investment" from outside creditors, lawsuit's etc..
 


seniorjudge

Senior Member
I am not concerned with her "handshake" part of the deal.

That is your first mistake; get everything in writing and treat her as if she were a total stranger.


I am interested in finding out how I can protect my "investment" from outside creditors, lawsuit's etc..

Pay your bills and gets lots of liability insurance.
 

joepar2567

Junior Member
Is there a legal way I can maintain rights to my money in her house? For eaxmple, loan her the money with no payments due until the house is sold, etc.?
 

seniorjudge

Senior Member
Q: Is there a legal way I can maintain rights to my money in her house? For eaxmple, loan her the money with no payments due until the house is sold, etc.?

A: Put a mortgage (in CO they uses deeds of trust) on the land. I.e., you are the lender and she is the borrower.
 

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