plsdepst.25
Junior Member
What is the name of your state (only U.S. law)?
California
Hi,
Say a parent helps one of their adult children buy a condo using their (the parents) good credit rating. The deed and all paper work, etc. only list the parent's name. When they were first filling out all the paper work and stuff, the parent had to show she actually was living there. She changed her address on a few bills and stuff to show the lender proof she was indeed living there. Which she wasn't because she had her own house. The son moved in and pays the mortage every month and has been for a few years. They never get around to changing the deed or adding his name to it. The parent dies. There's no will. What happens? Say the other brother shows up and says, 'well, remember what Mom said, if she were to die we split all her belonging 50/50 between us. And her name is the only name on the deed....guess what? I now own half of the condo!'
Would the other brother legally own half of it? How would the brother who's been living there and paying the morgage transfer his name on the deed? Would the state step in because there's no will?
I do appreciate your time, knowledge and wisdom on this matte
California
Hi,
Say a parent helps one of their adult children buy a condo using their (the parents) good credit rating. The deed and all paper work, etc. only list the parent's name. When they were first filling out all the paper work and stuff, the parent had to show she actually was living there. She changed her address on a few bills and stuff to show the lender proof she was indeed living there. Which she wasn't because she had her own house. The son moved in and pays the mortage every month and has been for a few years. They never get around to changing the deed or adding his name to it. The parent dies. There's no will. What happens? Say the other brother shows up and says, 'well, remember what Mom said, if she were to die we split all her belonging 50/50 between us. And her name is the only name on the deed....guess what? I now own half of the condo!'
Would the other brother legally own half of it? How would the brother who's been living there and paying the morgage transfer his name on the deed? Would the state step in because there's no will?
I do appreciate your time, knowledge and wisdom on this matte