My boyfriend and I are thinking about taking over the payments of his cousin's house since he cannot pay for the house anymore. How can we go about all the legalities and make the house legally ours?

You have to work through his mortgage lender. Any change in the ownership of the property could trigger a call of the loan (meaning the entire amount is due). If the loan is assignable, the lender should be willing to allow you to take over the loan and then your cousin sings a quit claim deed deeding the property to you. Even if its not assignable, they will probably be willing to work with you to avoid foreclosure.

Hello nanylic:

You have to buy it. I'd hire a real estate attorney to do it for you. Shouldn't cost but a couple hundred $$'s.

excon