Legal Question in Wills and Trusts in Florida

buying your parents home

can a family trust buy a parents home when the parents have very bad credit. While using the childern as trustees for there credit and incom and how does that work in the state of florida.


Asked on 5/16/07, 12:25 pm

3 Answers from Attorneys
Regina Mullen Legal Data Services, PLC

Re: buying your parents home

DEFINITELY consult local counsel about how to do something like this.

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Answered on 5/16/07, 4:43 pm
Robert Roemer Robert Roemer

Re: buying your parents home

yes-however, I would suggest you send me an e-mail with your phone # and when I can call you. There are gift,estate taxes which need to be part of the overall plan.

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Answered on 5/16/07, 5:24 pm
Gordon Nicol Law Office of Gordon T. Nicol

Re: buying your parents home

Yes you can... but when a trust buys property it is typically harder to obtain financing. Ask your attorney to recommend a mortgage company.

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Answered on 5/22/07, 1:15 pm


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