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Updated over 6 years ago,

User Stats

251
Posts
224
Votes
Sean Sloop
  • Real Estate Agent
  • Grand Rapids, MI
224
Votes |
251
Posts

Question about a Silent Investor?

Sean Sloop
  • Real Estate Agent
  • Grand Rapids, MI
Posted

Hello BP, 

I have a potential legal question. 

If I have a relative that wants to invest some money into a property I am buying, but I do not want their name on any part of the property, is there a legal problem to be concerned?

For Example, if I buy a 100k home with a 20k downpayment. My relative gives me 10k for 50% equity. He is not on title or partner in LLC or anything. Is this a legal issue?

I will likely contact a lawyer if we officially agree, but thought I would pose the question here while it is just a thought. 

Thanks for the time!

Sean

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