Legal Question in Real Estate Law in Oklahoma

joint tenancy

My husband and I are trying to get a loan on a home we are leasing from my husbands father. We make the payment each month to the loan company but the loan is in my father-in=laws name. If he were to decease before we get the loan in our name and we have a joint tenancy what kind of protection does that give us so we do not lose the property?


Asked on 7/28/04, 8:50 pm

1 Answer from Attorneys
Hunt John Urgentlegalcare.com

Re: joint tenancy

You really have no protection if you only have a lease. Especially if the lease is not written. From what I understand you are trying to get a loan so that you can buy the property from your father-in-law. If you do not have a contract for sale, pending finance approval, you have nothing you can enforce against your father-in-laws Estate should he die. You might try a lease-to-own agreement or contract for deed. Best bet. See an attorney.

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Answered on 7/29/04, 8:47 pm


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