Posted on: 11th Feb, 2009 01:11 pm
My wife was in a car accident when she was 15 yrs old and had money given to her from the insurance company which she then gave to her dad to buy a house, but the house was put under her sister and brother-in-law. How does the Assumption process work? Can it be under both our names? are there any fees associated with this process?
I am not familiar with the assumption process, but what I do know is if the title only reflects her sister and husband, then your wife has no "legal" ties to that property. Unless they have a contract written up. If the sister has no problem turning the house over to you guys, you can have a grant deed prepared taking them off the home and putting you 2 on. Is the home being financed?