Quick question about taking over a mortgage from a family member

[Henry Uili]

Quick question 

So here’s the scenario. A family member has her daughter and son in law living with her. They want to take over the full mortgage payments to help free the parents from debt and also keep the parents as tenants to come and go as they wish. They want to structure an agreement where the daughter is added to the mortgage to make it official and That’s all I got for now. 

So how can they structure a deal or agreement with that information.

[Omar Khan]

@Henry Uili Apart from the great advice you've received, I would add that taking "debt" off the parent's shoulders in this manner might not be the most prudent idea. 

The daughter might have a situation where the parents decided to stop or reduce rent payments in the future. Is she willing to either (A) kick them out and ruin the relationship or (B) have a hard conversation with them? If not (most people would find it very hard to have this conversation with their loved ones), then she can look towards paying a portion of their living expenses to ease the burden. In exchange, they can gift her the house in their will or a similar arrangement. 

Family financial dealings of any kind are fraught with danger as one is always walking on egg shells.