Yes my name, my daughters name and my son-in-law's name is XXXXX XXXXX
They owe more than they would get if they sold it, but it would probably cover most of the mortgage so buying him out is not really an option, I don't think although I am not really sure how that would work. They owe aprox. $140,000. They could probably only get about $120,000.00. So would we have to pay him $40,000.00? I realize that we would have to have it appraised etc. He's desparate for money so he may agree to that.
Yes, that doesn't make sense. Yes, my husband and I would take over the mortgage and the property and rent it out, but his name is XXXXX XXXXX and he is living there, so how would we get him out? Could he sign his portion over to us and remove his name from the title? What if he doesn't want to do that?
Yes, I do see what you mean. Is there some legal way that we can force him to do that?