My parents are financing the purchase of a home for my husband and I. We will be on the title with them, but we will be solely responsible for the mortgage payments and occupying the property. I am looking for some sort of contract/agreement template to use. We want to protect both our interests going into this. Does anyone know where I can find something like this? Something that will include solutions for contingencies like default on payments, or selling of the house?
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3 responses so far ↓
1 Jennifer F // Apr 18, 2008
you can buy the contracts at staples or office max.
2 bud68 // Apr 18, 2008
You should consult an attorney to make sure it is set up right from both legal and tax standpoints. It may be smarter for them to be simply the lender rather than co-owners.
3 godged // Apr 18, 2008
I'm sure you can find a form at an office supply store or on the internet. This is highly ill-advised.
The best way to protect everyone's interest is to spend a little bit of money and have an attorney draft this.
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