Im in Michigan...this is a bit confusing..hope someone can help.
My mother is currently going through a divorce...my dad, her ex-husband offered to buy her a foreclosure property..everything is in his name. She now found the funds to pay him back, and her lawyer recommended a warranty deed before she transfers the monies back to him. Her lawyer did get approval from her current husbands attorney, and her husband, to use to funds as well so she could pay my dad back asap so he would not get any penalities.
Does anyone have advice? is the warranty deed the way to go? should it be then as a "sale", or gift?? etc?
thanks
My mother is currently going through a divorce...my dad, her ex-husband offered to buy her a foreclosure property..everything is in his name. She now found the funds to pay him back, and her lawyer recommended a warranty deed before she transfers the monies back to him. Her lawyer did get approval from her current husbands attorney, and her husband, to use to funds as well so she could pay my dad back asap so he would not get any penalities.
Does anyone have advice? is the warranty deed the way to go? should it be then as a "sale", or gift?? etc?
thanks
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