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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 2 weeks ago

My mom bought a house in full and managed to put it under my name?

260k house. It’s 8,000 per year property taxes. I don’t own my own house yet and don’t know if my job is stable. She’s not asking me to pay for it but I’m worried that if something happens that I’ll have to pay for it. Also, keeps mentioning how she wishes own children would live with her.

22 Answers

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  • 2 weeks ago

    $8,000 on a house worth $260k is total insanity.  Are you sure about that?  What does "put it under my name" mean.  It probably means you are listed on the title as ROS right of survivor.  That means you get the home if she dies.  Most all parents do that.

    Now she does not need a will to say the house is yours.  If she goes to a nursing home in the next five years and wants medicare to pay, the nursing home will take the home away from you and her.  Think you better get smart and pay a smart young lawyer $250 to explain things to you.

  • garry
    Lv 6
    2 weeks ago

    if she dies you get a house for free after all she put it in your name didnt she , so the title has your name on it ..

  • 2 weeks ago

    Just because she wishes that you all lived with her does not mean you should.  If you are out of school and working, then you should be independent and living on your own.  If she dies, you will have to maintain the home, if you want to keep it.  If you cannot afford to, then sell it.

  • 2 weeks ago

    What exactly does 'bought a house in full' mean?  She paid cash for it so there is no mortgage?

  • zipper
    Lv 7
    2 weeks ago

    You need to set down with mother and fine out why she did that, may be she is trying to help you out.  And if she passes away the house being in your name means NO INHERITANCE TAX

  • 2 weeks ago

    If it's in your name, legally, then yes--you are responsible for it if she dies or becomes disabled. She did this to avoid a couple of serious pitfalls for elderly people:  Medicaid would take the house if she owned it, if she ever requires long-term care or can't pay for her care, and she will ALSO no longer be liable for property taxes if the house isn't in her name. However--that being said, she didn't even ask you--so you don't have to accept this. But you'll need a lawyer to give it back or get out of it. 

    It doesn't matter WHO PAYS the mortgage or the house expenses--it's the OWNER that is responsible for them. You had better get that lawyer soon before something does happen. 

    On the plus side, if the house is legally owned by you, then YOU can sell it and get the money back. Of course, if you do, you'll have to have her moved out. It comes down to what you want to take on--moving your  mom out, selling the house, giving the house up completely (or back to her) or paying for it if and when she dies. 

  • y
    Lv 7
    2 weeks ago

    So when mom dies, you get the house. How many siblings do you have, becouse that will be an issue.  If it is paid for, then all that will happen is the taxes may go unpaid, the town will slap a lean on it, it will sell for more then those taxes, you'll be fine.

  • Tavy
    Lv 7
    2 weeks ago

    She did not manage she committed fraud, you are now liable for all expenses.

    Get your name removed.

  • Jesus
    Lv 5
    2 weeks ago

    If the house is in your name and time ever comes where you become owners of it. You can always sell it. You might also want to look at having your house designated as a private church. And conduct Bible studies there once a week. And get a license to perform marriage ceremonies. 

    You're talking only a couple of hundred dollars to have this done. After you get your house declared as designated as a church. You no longer owe property taxes.

    But you have to make it legitimate you have to have some Bible studies there and you'll have to conduct some wedding ceremonies there.

  • Anonymous
    2 weeks ago

    Deed transfer to you without your consent is illegal and unlikely to occur.

    "I don’t own my own house yet"    Right.  Your mom still owns it.     See above.

    The property taxes, insurance and maintenance are her responsibility.    I'm guessing these bills are going to her and not you.   How do you figure she would be issued a homeowner's insurance policy or a property tax bill for a home she doesn't even own?

    As I said, I think you're mistaken about who actually owns this house.

    "Also, keeps mentioning how she wishes own children would live with her."   I don't see a question here.  Is there one?   

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