Legal Question in Real Estate Law in Massachusetts
Real Estate Deeds
My mother-in-law purchased property in her name for my husband (her son) and myself. We put the money down and pay the mortgage. Currently we have no protection stating that the property is ours but she is going to have an addendum done to her will stating that the property should go to my husband only. Eventually she states she will add my husband to the deed and sell it to him for a minimal price. I am unclear about all of this. What harm would it cause her for him to be listed on the deed now along with her? How does a family member transfer real property to another member? It seems to me that it can be done easier than if it were a sale to a total stranger. I heard it can be sold for $1.00. Finally, how does she eventually come off the deed? We are paying the mortgage, the taxes, the homeowners ins. etc. Thanks for your help. I am just concerned as to how this is all resolved in the end as it is our house but technically it is hers. None of us know how to handle it. Thanks very much for your help.
1 Answer from Attorneys
Re: Real Estate Deeds
I am confused as to who put the money down and why the purhase was done this way. I assume you and your husband do not have good credit and you and your mother-in-law put up the money for the downpayment.
There is no reason for your husbands name not to be added to the deed now. Your mother-in-law may be concerned as to your claims on the home in the event of a divorce.
The problem with relying on a will is that your mother-in-law can change her mind or someone could contest the Will. Also, depending upon the age of your mother-in-law if she goes into a nursing home, if she needs medicaid they will lien and perhaps force the sale of the home unless it is her primary home and you are living with her at the time.
I think your husband and mother-in-law
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