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Given your situation, it’s certainly possible to structure an arrangement that allows your stepson to invest in your home while ensuring both parties are legally protected.
Consult a Lawyer: This is the most crucial step. Consult with a real estate attorney who is familiar with your local laws. They will be able to provide tailored advice and help you navigate the legal aspects of this transaction.
Again, it’s crucial to emphasize that seeking professional legal advice is paramount in this situation. A qualified attorney can help customize this arrangement to your specific circumstances and ensure that both you and your stepson are protected legally.
You might want to explore the option of setting up a life estate https://rentola.com.au/blog/rent-increase-what-are-the-maximum-allowed-notice-requirements-for-each-state. This would allow you to retain the right to live in your home for the rest of your life, while your stepson holds a remainder interest.
