What is the name of your state? Virginia/Florida
My dh & I live in VA, dh's son lives in FLA. Dh son has horrible credit and is renting a home which is for sale. DH wants to purchase home, have son's name on deed and we/dh carry the mortgage; i.e. son pays mortgage directly but it's in OUR NAME. I suggested we purchase and have son rent from us then buy AFTER he straightens out his financial (continual) messes. He is very irresponsible with a great income (250+year). I know this borders on family law but what can we do to protect ourselves and still help him. Any suggestions? This is one of those typical second marriage messes involving stepchildren where the biological parent is "blinded" by emotion and the stepparent sees things slightly clearer!!! Thanx! (Also wasn't sure about FLA law,etc)
My dh & I live in VA, dh's son lives in FLA. Dh son has horrible credit and is renting a home which is for sale. DH wants to purchase home, have son's name on deed and we/dh carry the mortgage; i.e. son pays mortgage directly but it's in OUR NAME. I suggested we purchase and have son rent from us then buy AFTER he straightens out his financial (continual) messes. He is very irresponsible with a great income (250+year). I know this borders on family law but what can we do to protect ourselves and still help him. Any suggestions? This is one of those typical second marriage messes involving stepchildren where the biological parent is "blinded" by emotion and the stepparent sees things slightly clearer!!! Thanx! (Also wasn't sure about FLA law,etc)