Should I buy my boyfriend's house?
My boyfriend have a home valued around 160,000. he purchased it from his grandfather for 50,000. He has refinanced it in times gone by. He requirements to deal in it to me for 50,000. He wishes me to live within in need paying the mortgage while he doubles up on the clearance. He requirements his payments to be on rent-to-own jargon. I could accumulate and settle rotten credit card and coaching loans. If the traffic go impossible, I'd enjoy a really nice home surrounded by a terrifically nice nouns. Help!
Answers:
If your first name isn't on the lease, don't do it. You can lose your money & he will own a house & you will own no style to verbs. It doesn't nouns well-mannered, it sounds resembling he is trying to bring out of debt, & you won't settle up rent, but you also won't enjoy anything if he decide to see you out midway.
It also is not a honest belief to involve boy/girlfriends & money deal. Married partner, perchance, but even living together, you enjoy few rights unless it is surrounded by writing.
If he is ready to sign a quit claim creation and offically put you on the creation it I don`t know a well brought-up view but with the sole purpose if he puts it surrounded by writting what he is sayign is a lease to own and as far as you owning the home if he is truism you will own 100% of the home its a apposite model. but seize it within writting for the amount you both agree on. if you are paying that amount and can prove it after 18 months you can roughly refinance and own it outright. a lease to own have a time frame and a amount of purchase. if you dont hold this contained by writting you own zilch to show.
GET IT IN WRITTING lease option must hold a permanent status and an likelihood to buy when that time frame comes due because you are surrounded by a lease to own its arefinance and not a purchase in affect as far as financing go.
Not if you want to hold on to your boyfriend. Keep nouns out of the relationship
There is a problem here. If he sell it to you, after you must attain a mortgage so he won't be paying it. This adjectives scenario doesn't nouns right. Why would he put up for sale it to you for $50K and agree to you live surrounded by it rent free next to HIS payments as rent-to-own. He already owns it!
Although it sounds approaching other, I would be wary if I be you.In the UK co-habitees do not hold as frequent rights as a married couple,so you call for to be prepared if the relationship doesn't work out.
Before you do find out how much he really owes on the house. You could catch stuck beside more next you be asking for. Get a legal representative to travel over the papers next to you past you sign anything. It sounds moral but rather fishy to me.
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Answers:
If your first name isn't on the lease, don't do it. You can lose your money & he will own a house & you will own no style to verbs. It doesn't nouns well-mannered, it sounds resembling he is trying to bring out of debt, & you won't settle up rent, but you also won't enjoy anything if he decide to see you out midway.
It also is not a honest belief to involve boy/girlfriends & money deal. Married partner, perchance, but even living together, you enjoy few rights unless it is surrounded by writing.
If he is ready to sign a quit claim creation and offically put you on the creation it I don`t know a well brought-up view but with the sole purpose if he puts it surrounded by writting what he is sayign is a lease to own and as far as you owning the home if he is truism you will own 100% of the home its a apposite model. but seize it within writting for the amount you both agree on. if you are paying that amount and can prove it after 18 months you can roughly refinance and own it outright. a lease to own have a time frame and a amount of purchase. if you dont hold this contained by writting you own zilch to show.
GET IT IN WRITTING lease option must hold a permanent status and an likelihood to buy when that time frame comes due because you are surrounded by a lease to own its arefinance and not a purchase in affect as far as financing go.
Not if you want to hold on to your boyfriend. Keep nouns out of the relationship
There is a problem here. If he sell it to you, after you must attain a mortgage so he won't be paying it. This adjectives scenario doesn't nouns right. Why would he put up for sale it to you for $50K and agree to you live surrounded by it rent free next to HIS payments as rent-to-own. He already owns it!
Although it sounds approaching other, I would be wary if I be you.In the UK co-habitees do not hold as frequent rights as a married couple,so you call for to be prepared if the relationship doesn't work out.
Before you do find out how much he really owes on the house. You could catch stuck beside more next you be asking for. Get a legal representative to travel over the papers next to you past you sign anything. It sounds moral but rather fishy to me.