Legal Question in Real Estate Law in California

I plan to buy a house to be occupied free of charge by my son and his wife. My wife and I will continue to live in our home that we purchased in 1977 and refinanced in 2002. I understand that the mortgage loan documents I must sign to buy the house for my son to occupy will contain a statement that I will occupy the house for at least 12 months after the escrow closes. Will the occupancy of the house by my son constitute occupancy by me in conformity with the loan documents I will sign even though I do not physically live in the house?


Asked on 12/13/12, 5:51 pm

2 Answers from Attorneys
Anthony Roach Law Office of Anthony A. Roach

It will constitute fraud.

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Answered on 12/15/12, 1:24 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

No, you and your adult son are not the same person or household for these purposes. Tell the lender what the real facts are. The difference in cost shouldn't be that great in comparison with the peace of mind.

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Answered on 12/15/12, 8:25 pm


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