Dear XXXXXXXXXXXX,
Are you in the US?
Whose name is on the deed (not the mortgage) to the home?
What kind of deed is it (is it joint ownership, if there is more than one person on it), does it have rights of survivorship?
Are on the mortgage at all?
Do you pay any part of the mortgage?
The ownership of a house is normally determined by whose name is on the deed, not whose name is on a mortgage loan. Having ones name on a mortgage loan does not make one the owner of a home, it only makes one responsible to pay the loan the house is collateral for. However, there may be a problem if your father passes away if your name is not on the mortgage at all because that may mean the lender may then call the loan and, if that occurs either your father's estate will owe the money or you may need to then take on a loan to be able to pay off the balance (although there are some insurance programs an owner can put on a home just in case they "borrower" dies).
As for assuring that the home remains with you, simply due to the mortgage loan. that may involve the creation of a will. You and your father should speak to an estate attorney to have the attorney properly draw up a will or help you work out a plan to assure that the loan will be taken care of and that you will be able to remain in the home, without the lender or your siblings, as potential inheritors of the estate, intervening. Just "getting something in writing," if your father does not have a will, may not be enough. When a person dies without a will the distribution of any assets they may own or have an interest in, and their debts, are part of their estate and all members of their family then, under state laws, particularly children, have equal rights. A document, even though it states "this asset must go to my child X" will not normally serve to keep that asset from going into the estate. Only a will, or a trust, can assure a person who wants to be sure they own something free and clear after someone's death. Because state laws are extremely specific about when a will is valid, you must see an estate attorney to be sure all is accurately and legally done. Also, again, the matter of how the mortgage will be taken care of must be determined now, before the potential of loss of the home becomes an active concern.
Lawyer (JD)
Experienced attorney; contracts, internet, business, finance, employment, RE, consumer, & more.