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Selling house to family
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Hey so my grandma has owned her house for 30 years. she had it built. Well a few years back she took a loan out on the house to pay for stuff with the deal that her or someone in her family can buy it back if they just pay off the loan. Well she is now selling it to one of her grandkids whose name is John and his new wife and they plan on fixing the place up and moving in. They just have to pay off the loan and it’s there’s. I won’t say specific price but they’re getting the house for less then 50% what it’s worth. Amazing deal for them. My grandma already has other family living with her and is worried that once she sells the house that John will take control and potentially kick out the other family members who live there and do things she doesn’t want. I just wanted to know is there a legal way she can agree to sell him the house and he can pay the loan and him and his wife can move in but she remains in control of the house and has final say in anything until she passes away and then he would get the house. She wants to let him buy the house cause it’s an amazing deal and a nice house in a nice part of town and that way the house will stay in the family. I just want to find a way to make sure he doesn’t take advantage of her and start changing things she doesn’t want changed. Which he has already started to do and she’s been a little upset about it and wants to find a way to give him the house without losing control. Thanks in advance for any help and if anymore details are needs just let me know! The main thing she’s concerned about is him getting the house and then in a year or two kicking out the other family that already lives there.

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Posted
1 month ago