can i take over somones home with a joint ownership with right of survivorship form

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can i take over somones home with a joint ownership with right of survivorship form

My elderly neighbor wants my husband and i to take over his home. He has a
mortgage on it that we are willing to pay. He said if we pay the payments left
on the mortgage the house is ours. We just need to know how to keep the house if
he passes away. do we need quit claim form and joint ownership with right of
survivorship form. Will that protect us after he passes away. We would continue
the payments until it is paid off. we just dont want to lose the house if he
dies

Asked on March 31, 2017 under Real Estate Law, Washington

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Please, please, please go and seek help from an attorney in your area.  There are SOOOOO many issues lurking here it is hard to even pin all of them down.  First and foremost when he passes if there is nothing in writing regarding the law you will lose out.  Second, deeding a house with a mortgage to some one else often accelerates the mortgage and it becomes due and owing.  And third, if he has relatives that can inherit you need to worry about them setting aside any deed if it is not properly done.  Do NOT do this yourself.  Good luck.


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