Currently my fiance has a house with a mortgage that is under his name. However, it was purchased with his father's money and his father is the one who makes payments on it. We don't live in it.. it was put under his name solely because his father wanted a lower interest rate. We are to marry soon and his father wants reassurance that the house will be transferred back to him in a few years. He essentially wants the both of us to draft some sort of affidavit that says that the house is essentially his and that we forfeit all claims to it and a promise that we will transfer it over in a few years. Now I have my own place and want nothing to do with his place but of course my word isn't good enough. He seems to think that somehow after marriage, I would have some legal claim to the real estate. I was under the impression that that only applied to assets acquired during marriage, not before. Nevertheless, I will find a lawyer and sign this with my fiance to ease his father's mind. What would this type of letter be called? Do I need a lawyer to draft this or can a simple letter of intent work? Any insight would be helpful, thanks.
Answer
I suggest that you confer privately with a real estate attorney at this time.
Answer
Your fiance's father does have a valid concern. For everyone's protection and peace of mind, you should consult with a real estate attorney to best structure this deal.
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