Legal Question in Wills and Trusts in California
I presently own a house . My mother is loaning me money to buy another house until I sell the present house to pay her back.If something were to happen to me
I need her money or the new house to go back to her for her protection.
The way I know to do this is a will or trust.
Is there any other way to do this ?
Thanks,
John
1 Answer from Attorneys
You could provide here a deed of trust or have her place a lien on the new home until the old one sells and you repay the loan.
How were you thinking of doing this in a will or trust? decreased beneficiary interest until the amount is repaid? Believe me, this can lead to later problems...we're involved in a case that has similar facts and the siblings are demanding proof of payment from separate funds...it can get sticky.
The first ideas are better options.
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