Legal Question in Real Estate Law in California

Re: UC Berkeley student buys home looses grants

It would be impossible to say; scholarship terms are as diverse as the Berkeley student body. In general, I'd say no, he won't lose them, unless they were made on the basis of need and the house purchase shows either that there is no longer a need basis, or that the scholarship application falsely stated a need that wasn't there. Another possibility is that any scholarships or grants that aren't for four years and require renewal every year or even every semester will be tougher (or impossible) to renew. I assume the student is at least 18 or emancipated, otherwise he would lack the legal capacity to contract to buy real estate.

Re: UC Berkeley student buys home looses grants

Let's put it this way, it depends on if he is getting his grants based upon his income or your income. Even so it is determined as to whether or not the house is exempt applicable to assets for the purpose of determining the need of the individual. So you have to go to the California grant regulations and determined whether or not the house is exempt. The question is where the money come from as the down payment and where is the money coming from to support the house, PI TI. While this is a very good investment and your son is very smart as a father who spent $160,000 to put both his children through undergrad and grad school, quite happily by the way, I have a problem with his meeting grants wall owning a residence. Isn't the grant money funding the residence when it should be funding his education. My question is do you have any parent loans applicable to his education and are those funding the residence. You have to look at the spirit in which the funding is being made to determine his need and the purpose for which the funding is being used. I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.