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Buying a house with a family member as a silent partner

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Guest	Posted: Wed Jul 20, 2011 7:17 pm    Post subject: Buying a house with a family member as a silent partner Like 0 Dislike 0 Is it possible to accept money for a down payment for a house from a silent partner, family member, and have them give funds monthly towrads the house without their name on the deed or loan. And if it is, can they sue to prevent selling the property even if you arrange to pay them back. If they can sue will it stop or delay the sale?
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Wed Jul 20, 2011 11:01 pm    Post subject: Like 0 Dislike 0 Hi Guest, You can accept money from a silent partner. However, you may have to prove that you're using a gifted money in order to pay toward down payment. You may have to provide a gift letter for the same. If the silent partner's name is not mentioned on the property deed, then that person won't be able to stop you from selling off the property. Thanks

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