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deed

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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
 


FlyingRon

Senior Member
First, the parent is committing mortgage fraud by lying on the application and fabricating documents to support that lie.

Without a will, what "mom would want" is immaterial. It's determined by rule of law. If the property was owned by mom, then it passes via the rules of intestate succession. Assuming no husband, it gets split amongst the children in most states. The brother indeed would end up owning half the condo.

How does he protect himself? By not engaging his mother in illegal fraudulent activity? We can't recommend ways to break the law and not get caught.

Obviously mom could actually get a will, or put the property into a trust, or depending on state laws (which I'm not going to look up) own the property in some sort of joint title with the son. Of course, that may alert the bank to the fraud.
 

nextwife

Senior Member
If son doesn't later want a problem, he should eventually "buy out" Mom, and get her off the mortgage. Hopefully, he won't always need her help to buy a house and he used those early years of being there to build his credit.
 

plsdepst.25

Junior Member
deed thanks & one more question

My greatest thanks to both FlyingRon and Nextwife. You both made excellent points. In this DEED Case, the parent did pass away and the one brother who lives in the condo is somewhat lost in what to do. He'll probably do nothing and keep making the payments until the State or his brother decides to move in or rents his half out to someone else! Again,thanks!

P.S. One more quick question if I may:: If one lives in a Mobile Home Park, owns the coach and lives in it.....I've heard the owner of said park can not charge a late fee if the person is late paying his space rent. But if said person is renting the coach and not the owner, then he can charge a late fee. Any thoughts? This question also comes from Calif.
 

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