Legal Question in Real Estate Law in Florida

Purchase Elderly in-laws home, with clause

Is it possible to purchase my Inlaws home in Florida, but allow them to live in the home until one passes away? That way they can have the money to use now, and I can have the home later? How would this be set up?

Thanks!

M.M. in Michigan


Asked on 9/23/06, 1:24 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Purchase Elderly in-laws home, with clause

Yes. One way is to give them a life estate.

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Answered on 9/23/06, 2:01 pm
Robert Roemer Robert Roemer

Re: Purchase Elderly in-laws home, with clause

There are a number of ways to purchase their home. However, it is important to define your objectives(are you and your wife trying to get them money now,are you trying to use this transaction as a gift,etc).If you can send me an e-mail outlining the goal I can offor you some meaningful assistance.

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Answered on 9/23/06, 6:02 pm


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