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Receiving house after parents pass away - legal is
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Receiving house after parents pass away - legal is 6 мес. назад #3181

  • MichaelSmith
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Hello,

I recently assisted my parents with a home purchase. I provided the down payment and they have taken over the mortgage. The plan is that when they pass, it will be given to me. My siblings were OK with all this as they will be getting other assets as stated in our parents will.
Is it a good idea to get a legal contract between myself and my parents in regards to the house? We just want to prevent any possible future issues if my siblings (or their significant others) decide to have a piece of the house once emotions run high as my parents pass away.
We are all on great terms and I don't think we will have any issues, but you just never know...read all kinds of horror stories here and elsewhere.
Is there a specific type of contract that is normally drawn up for this kind of situation? Is a will a good enough document?

Any help will be apprecited.
I didn't find the right solution from the Internet.

References:
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Thank you
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