Take ownership of your mistake and learn to do the proper due diligence recommended above😊

There's no need to wait six months - while they continue smashing the car - just to stand in front of a judge and prove ownership.If someone enters a home and the homeowner calls the police to report a crime, police can quickly verify ownership and remove the illegal occupant.

Here’s a quick rundown:Pros:No Mortgage Payments: You won't have to worry about monthly loan payments.Full Ownership: You immediately own the property outright.Flexibility: You can easily choose to live in it or rent it out.Savings: No interest payments or mortgage fees.Negotiation Edge: Sellers often prefer cash buyers, which can help you get a better deal.Cons:Opportunity Cost: Your cash is tied up in the property, so you might miss out on other investment opportunities.Liquidity: Real estate isn't easy to convert to cash quickly.Risk Concentration: Investing a lot in one property can be risky.Ongoing Expenses: You'll still need to cover property taxes, maintenance, and insurance.Do whatever makes sense for you!

Sometimes, the assurance of having trustworthy tenants that you actually like transcends monetary calculations and contributes significantly to the overall enjoyment of property ownership (especially when you're neighbors).

I recently established an ownership structure similar to you with the help of a lawyer.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

@Joseph SheahanI can speak to the refinance portion: As long as a guarantor with good credit has at least 25% ownership refinancing should be an issue.

Now you have given a glorified renter TITLE ownership to the home and your on the hook for the debt.

It's possible the deceased father agreed to let her manage the property and keep the rent net for her troubles, but the title/ownership remains in him so his heirs would inherit it as a legacy.I suggest your friend familiarize himself with the statute of frauds which I believe requires agreements regarding real estate be in writing to be enforceable.

I know we can have a lawyer draft up a quit claim deed to get her sister off of the deed, but I have head this is similar to when people transfer ownership to LLC and could pull up the due on sale clause?