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Updated over 10 years ago on . Most recent reply

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8
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George M.
  • North Las Vegas, NV
1
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8
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In a good spot?

George M.
  • North Las Vegas, NV
Posted

Fathers giving me the house when.. God forbid.. When he passes.

I do want to help him pay down the house. But I'm feeling that I should invest that money in other areas. I'm ABSOLUTELY happy with living at home and accumulating wealth. Haha.

So pay down the house or not to pay down the house. I guess that is the question. Any other strategies or bigger picture thought on this would be great.

Thank you for you time.

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,080
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@George M. - Not saying your father would screw you over, but if you are considering putting money to pay down his mortgage with the thought of inheriting it some day - it would be best to have something in writing. At least a transfer on death deed

http://www.nolo.com/legal-encyclopedia/transfer-death-deeds-real-estate

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