Profile picture for alex72

Buying a house under a Family Trust

I would like to commonly buy a house together with one of my relatives and live in the house personnally. Is it possible to do so? Thanks for your precious help
  • January 12 2010 - New Rochelle
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Answers (4)

Profile picture for robin398
Hi alex72,

I have a name of an attorney who is located in the Bronx who has experience in trusts.  Her name is Denise Miranda and below is the link to her website:

http://www.harrismiranda.com/partner_dmiranda.html

Robin Lynch
Keller Williams Realty Group
  • January 14 2010
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My view would be that you are better off with a tenancy in common than a trtrust. Have your attorney draft a tenenacy in common agreement which sets forth what will happen if you or your family member wants to get out. This will make financing a lot more manageable
  • January 13 2010
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It is harder to get financing for houses in trusts. You could buy it, then put it in a trust. Then it becomes harder to refinance, if and when needed.
  • January 12 2010
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I don;t see why not but that is a legal question to ask an attorney.

That way you know you are getting the correct information.

Good luck

Donna Galinsky
Pugatch Realty Corp
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  • January 12 2010
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