Legal Question in Family Law in California
Who's name should the house title be in? Daughter or 90 year mom?
My elderly mother (90 years) and I (61) are buying a new home together. We will both be using proceeds from our current homes(250,000 each) to purchase the new home for cash. How should we hold title? I'm not comfortable with her name on the home due to her age. She is willing to have the house in my name provided there is a legal paper stating that she will be taken care of until her death. Or we could place it in her living trust to avoid tax. What do you suggest we do. Also her 94 year old boyfriend is going to move in with us and pay rent ($1,000.00 per month). Do we need a renters agreement or anything else in case he needs medical help or we have problems with his drinking? I will be their care giver and want everything to go smoothly before we move into the new home. Thank you for your time.
2 Answers from Attorneys
Reply: Who's name should the house title be in? Daughter or 90 year mom?
In a general sense you could take title with your mother as joint tenants, and upon her death, you would own the property completely. The risk with a joint tenancy is who dies first. As for the tenant, yes, a month-to-month rental agreement is appropaiate and forms are available at most stationary stores and over the internet (including my web site).
For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced family law lawyer. Experience is not expensive, it's priceless!
You will find some valuable information on various California family law issues by visiting my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Who's name should the house title be in? Daughter or 90 year mom?
Have some peace of mind and do it right. Consult with an attorney and let him draft the estate plan that makes the most sense. The rental agreement as well. Call me directly at (619) 222-3504.
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