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Answered in 24 minutes by:
3/31/2012
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,271
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
Verifiedchristhelawyer :
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christhelawyer :
You can transfer the property to her subject to the mortgage, but the mortgagee would need to consent. You could enter an agreement that she buy the property, and she undertakes to pay the mortgage thereafter, by a formal agreement, and with her interest protected by a caveat.
Customer:
You didn't appear to answer the question. She doesn't have enough assetts to be approved for a mortgage but can afford to pay the ammount needed weekly. We would see her taking over a percentage of mortgage ie; CV value of the house and we paying the difference owing. Which is the easiest way of doing this?
Customer:
You didn't quite understand the question. Our daughter doesn't have suffcient assets to be considered fro a mortgage but has enough money weekly to afford the repayments.Could she take over the greater ammount of the mortgage repayments ie: the CV of the house and we continue to pay the rest?Which would be the easiest way of doing this/
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,271
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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