My parents have decided they no longer want the responsibility of home ownership and would like me to take this over. The home is a duplex, with no mortgage. My parents live in the upper apartment and my family and I have lived in the lower apartment for the past 14 years. What is the best way to go about this and what types of cost are involved?

I would have them SELL you the property with your mortgage payment to them equal to their rent payment to you so it's a wash.

Check it out with a notary.

Salut!