Legal Question in Wills and Trusts in California
My mom has a will that states everything in her estate is to be split between me and my siblings. She called me tonight (she is of sound mind very with it at 82 years old). She stated she wants to sell me her house and seller finance it to me for 1 million dollars and live with me for the rest of her life in it (the house is worth almost 2 million dollars). We would be giving her a 3% down payment and a monthly payment against the loan. We would take over all bills and repairs with the house (it needs some work). First pff can she sell it to me for that reduced price? Second how does the loan work if she passes before its all paid off? What legal problems could i face with my siblings fighting me later for their share even though there would be a legal agreement drawn up for this purchase
1 Answer from Attorneys
Yes there is going to be major problems with your siblings with this transaction. You have to talk it out with them and with your mother.
Good luck.
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