My husband and I currently love in his deceased grandparents house which is currently owned by his parents. We would like to officially buy the house and transfer it to our name. The mother is has reservations because she wants the house to stay in the family and doesn't want us to sell it (we have no intentions of doing so).
Is there some form or agreement in which she could sell us the house but have an exception that we can only resell the home if it is going to another family member?
Or something along those lines. So my husband and I can be actual owners (have equity in it, claim it in our taxes, refinance, etc) but she can still semi exert control over the future ownership of it? Putting it in my husbands name only has been suggested but still does not ease her concerns.
Answer
How about a family real estate partnership that you all have contraol over but others maintain a small ownership interest?
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