Legal Question in Real Estate Law in California

My land - my responsibility

My boyfriend is not working and is living off the equity of his home. He wants to use the equity of his property to pay the remainder of the loan on my land which I just started payments on.

And then pay him each month instead of the bank.

From what I understand if allow him to pay the land mortgage then he will own it.

Is this correct that he would end up owning it (seems suspect to me). He has made no mention of it being a gift, not in light of him asking me to put a few hundred towards his equity each month after his 'paying' of my loan.

My take is that I am responsible for my own bills, and it makes no sense for me to pay him when I can pay the bank just fine.


Asked on 7/17/09, 3:14 pm

1 Answer from Attorneys
David Gibbs The Gibbs Law Firm, APC

Re: My land - my responsibility

He will not own the land if the transaction is structured properly. He would be just like any other refinance lender, who holds your promissory note, and a security interest in your land. He may be considering this because he could probably get a higher interest rate from you than putting the money in the bank, or he may have nefarious intentions - hard to say. If the transaction is structured properly (have an attorney construct it), it should be fine. But, if you have no reason to or need to refinance, then don't let him pressure you into this.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.

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Answered on 7/17/09, 4:45 pm


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