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-   -   Purchasing half interest in parents home. (https://www.askmehelpdesk.com/showthread.php?t=714646)

  • Nov 6, 2012, 01:55 PM
    kaseycs
    Purchasing half interest in parents home.
    How would I go about buying half interest in my mother's home with her carrying the mortgage? What is the least amount of interest she can charge?

    Finally who could arrange this for me?
  • Nov 6, 2012, 02:14 PM
    ScottGem
    You would first have to work with her mortgage lender to agree to the sale.

    If they agree, she can give you a quit claim deed from her to you and her as joint tenants (with right of survivorship). You give her a promissory note detailing what you will pay.

    You can check the IRS website for guidelines on what interest can be charged by family members.

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