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Purchasing a home for $1 from a relative
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I have a elderly relative that likely has lets say a few years to go still till the unfortunate comes. She has put it in her will that I am to get her home. Now the home is in bad shape as it's getting old and hasn't had anything but major repairs done to it. House is paid for in full. Realistically the home needs to be demo'd and really the only value is the land, which isn't an insane amount. Any way it sounds like some relatives may contest it which honestly the fight isn't really worth it. I have suggested I just buy it for a $1 from her and she can just stay there till she can no longer. Should I be getting a real estate lawyer to draft up a purchase proposal or something?

Then by rights no one can contest it when the time comes and she passes away?

thanks

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Posted
1 year ago