Confusing scenario: HELOC, joint tenancy, etc.

[Suzanna Piowaty]

I am hoping for some clarity. This situation is a bit sticky, so bear with me through the details. (They're about as clear as mud.) I am wondering: Is it possible to put in a cash offer on a house with another person (tenants in common) when all of the funds come from only one of the individuals named on the deed, not both? In this case - it would be myself, my husband and my dad named on the title, but all of the cash would come from my father's account to purchase. Essentially, during that initial offer, my husband and I would be "in name only" owners. Then after that initial purchase, could I use a HELOC to pay back/buy out my father with cash from the line of credit?

Backstory: I am wanting to purchase an investment property and they're moving quickly here in Atlanta, so wondering if I can tackle the initial offer/purchase this way in order to move forward rather than waiting for the HELOC to come through since it may only be a matter of days in between closing and when my HELOC funds become available.

Any light you can shed on this would be super helpful, as Google hasn't turned up much.