Legal Question in Business Law in California
Reguarding a loan
My husband and I recently sold our house and we are thinking about purchasing some property with my inlaws. The property alreadys has an existing house on it which my inlaws would occupi and my husband and I would purchase a modular home and put it on the property to live in. My inlaws would like us to do the loan for the whole property in our name and then they just do a lease agreement with us but I am kind of scared about doing that because of tax purposes. I am currently in college and I have qualified for financial aid but I am afraid if we do this that I won't qualify for financial aid anymore. Should I be scared about doing this?
1 Answer from Attorneys
Re: Reguarding a loan
You may need the advice of a financial planner more than an attorney. They are in a better position to predict how college financial aid offices are likely to react to changes in your situation.
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