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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2241
Experience:  Experience in residential real estate and commercial leases.
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4 years ago I help to buy a house to my uncle because of s

Customer Question

Hi my name is Rosa!!! 4 years ago I help to buy a house to my uncle because of his income and credit were not enough. Now i have been decided to buy my own house and most of the banks tell me that i dont qualify for any program since im not a bew home buyer. I want to get rid my name of the property and morgage as well but i need somebody to help me with all paperwork. How ever i would like to know if its legal to ask to my uncle to compensate me for the favor i made for him 4 years ago buying his house. Now i need a 20% of downpayment since i dont qualify for 5%. What do you recommend me??
JA: OK. The Real Estate Lawyer will need to help you with this. You just pay a $5 deposit now and the rest only when you get a reply from the Real Estate Lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: How much will be the fee for everything if i decided to get one of your lawyers.
JA: I'm not sure of the exact price, but there's only a $5 deposit. The rest of the price information will be on the page I send you to.
Customer: Where r u located???
JA: Have you talked to a lawyer yet?
Customer: No not yet!!!
JA: Anything else you think the lawyer should know?
Customer: No i think thats all
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  J. Warren replied 1 year ago.

Hello and welcome! My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Any agreement regarding the sale of real property (house) must be in writing. It would be very difficult to recover any amount from a person that was assisted by another for the purchase of a house unless there is a contract that clearly indicates the transaction was a loan and not a gift.

There is nothing wrong with asking the Uncle if he can refinance the house in a mortgage in his name and remove you from the deed and use proceeds of the refinance to assist you with a down payment. However, you would not be able to legally compel him to do so.

If his name is ***** ***** the deed or the mortgage, then you may be able to sell the house and take the profit and use it as a down payment. But this would only be in the event you are the only owner of the property and do not hold title jointly with him.

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Expert:  J. Warren replied 1 year ago.

Can I answer any additional follow up questions for you or clarify anything I have written above? If not, can you please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter? Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).