Legal Question in Real Estate Law in California

Purchasing home from parents

My parents have a mortgage on a town home which they currently live in. They decided to buy a mobile home because my dad is retiring and wants to lower his expenses. Anyway, they offered to let us take over the town home and continue paying the mortgage. I�ve been over the different ways this can be done and have come to the conclusion that the best way would be to just get a home loan and buy the property directly from him (which he is okay with) at what he currently owes on the mortgage, which is $295,000. My question is, would this be the best way to do it or am I missing something?


Asked on 3/24/08, 1:13 pm

1 Answer from Attorneys
Mitchell Roth MW Roth, Professional Law Corporation

Re: Purchasing home from parents

No. You're not missing anything.

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Answered on 3/24/08, 9:26 pm


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