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Get it in writing when family members take title together

There are many situations when family members take title together, whether for estate planning purposes or in most cases, when one member cannot qualify for financing alone. Others then go on title but have an agreement that they will not contribute to the upkeep of the property. If this relationship is not reduced to writing, then problems will occur later if disputes arise.

If it is intended that one owner will be holding title to the property in trust for someone else, get everything in writing at the time that the property is purchased, to avoid any problems later.

Click here to read the article:

http://www.thestar.com/business/personal_finance/2013/08/30/get_it_in_writing_when_family_members_take_title_together.html

Thanks, Mark Weisleder,  for more excellent information.