Hey pony peeps, anyone here know about titles/deeds/real estate?

[Gingerbread]

So, my dad had some hard times years ago and my grand-dad purchased a house for him. Grand-dad bought it outright and holds the deed. The plan was my father would live there paying a little rent to him to cover insurance and taxes and the house would be my father's inheritance. However my grand-dad maintains ownership until his death because he doesn't 100% trust my dad to not take loans on the house and end up losing it. That's the case in a nutshell.
Over the years my grand-dad's perception of my father's responsibility has not changed though and now he worries that once he passes Dad will borrow against the house and not keep up with loans and lose it and be back in the hard times he was before. So, he has asked me to come figure out with him a way I can have some control over the property. I'm a little hesitant on this because I don't know how it could be set up for me to have any control without also having some liability. If my father doesn't keep the house up, pay insurance or pay taxes I don't want it all falling back on me. I'm not sure if there is a way to make it so I have to give permission before any loans can be taken out on the house but would not be responsible for any of the previously listed things. *sigh* I'm thinking I need to make an appt to see a lawyer or something but now is not the best time to be doing this, my grand-dad is stubborn though and when he gets an idea he won't let it rest. I also don't think he wants my dad to really know about all this which makes me uncomfortable. I try not to get in the middle of anything and I have a good relationship with both but they have been butting heads the past couple years. Sometimes I feel like a parent to my parents, why can't they just be normal LOL

 

[Skybreeze]

I’ve unfortunately been in similar situations in the past (and currently with my grandparents and my uncle). I would highly recommend seeking out the advice of a lawyer. You should be able to get information (over the phone or via video chat right now) and they would be able to tell you what options there are for your state.

We were advised to have assets put into two names and one being similar to an executor of the estate. I forget all the legal jargon but very similar. I know this isn’t an answer you wanted but thought I’d let you know 1) your not alone and 2) kind of what you can do. Ha ha! *face palm*

 

[Tak]

I'm in a bit of a similar situation. My parents own my home because, otherwise, we could only afford a one bedroom apartment. I pay mortgage and utilities, they pay property taxes and big repairs. I'm not in their will. If they both pass on, my siblings will own the house and they put a provision in their will that my daughter be allowed to remain living here. They'd be able to raise what we pay, but, as long as we pay it, we can stay. There's also a provision that my daughter would have an option to buy if the situation arose where they couldn't afford to keep it.

 

[IceCrystal]

I feel for you. My situation was not the same, but my grandmother also didn't trust my mum (she just can't handle money and is a hoarder), so my mum still got my gran's house once she passed away, but she put aside a little money for me (from her meagre pension) because she knew my mum wouldn't even offer me the house to live in (she sold it outright without even consulting me) and that I would go away empty-handed otherwise. I grew up with my grandparents, as my dad didn't pay an allowance for my upbringing (even though my mum could have had the money deducted from his salary, but she was too much of a coward to initiate this) and my mum had to work full-time. So I grew up in my gran's house and I loved it, even though it was tiny, but I would have expanded the attic in order to create more living space. My gran and I had a wonderful relationship, and my mum came over every evening, but just because she was too lazy too cook herself, not because she wanted to see us....

But once my mum inherited the house, she was in a real hurry to sell the house in order to get her hands on the money. I had problems with my autoimmune system at that time so wasn't even able to fetch my stuff, which is ironic, as she tidied up the house in record time while her own (rented) flat is a complete mess. By the time I finally got there, only the garage was still a untouched as she hadn't found a towing service for my grandad's old rusty car yet. So at least I was able to retrieve my ponies, as they were stored in my grandad's car.

The little money my gran put away for me wasn't enough to buy a house of course, but over time my boyfriend and I were finally able to buy our own house. I'm still furious with my mum because I would have preferred to live in my gran's house, as it's much closer to my working place and I have very fond memory of it. As she can't handle money and used they money from the house sale to polish up her pension, she has now used it up and she's only 76.

In your situation, I would also highly recommend seeking out the advice of a lawyer. I hope everything works out fine for you. And I can definitely relate with the feeling of being a parent to my mum.

 

[Sunkissed]

I have sympathy for what you are hoing through. It sounds like your family sees you as more responsible than your parents.

I agree with everyone else. Even as I started reading, I realized that you need a lawyer. Search for Estate Lawyers, Make some phone calls, find out if you can get a free consultation, or if they want money upfront, find out the Retainer Cost/Fee, etc.

Just a suggestion To get a Real Estate Lawyer.

 

[chii]

What an awful situation to be in! You have my sincerest sympathy.

Like what everyone else has said, I also feel you need to seek the advise of a real estate lawyer. At least where I live, they are doing consultations via webcam. So you can still see each other, but don't have to worry about getting sick.