Legal Question in Real Estate Law in Virginia

Myself and a relative helped (financially) my parents purchase a house...we doubt there will be any problems when time comes to sell the house, but we have no formal written documentation of the agreement. If we want to have something more concrete, is there something easy (and non-malicious) we can set up? Property lein, adjustment to my parents' will, etc.?


Asked on 9/07/09, 3:20 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Despite your apparent optimism regarding the supposed lack of problems "when time comes to sell the house", your roseate view of matters may not be warranted by the underlying risk inherent in the arrangement which you've described regarding the apparent total lack of documentation for it.

I would therefore suggest that you arrange for a consultation with a local attorney who handles real property transactions to determine what should be done now to rectify this misguided situation in order to avoid a very real potential for problems in the future. (My opinion.)

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Answered on 9/12/09, 3:36 pm


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