Chicago, IL asked in Real Estate Law for Illinois

Q: I am currently renting a home however am not credit worthy to purchase.

The owner is willing to create a legal agreement for me to pay the mortgage and then when I am done she will sign the title over to me. Is this something that can be done? She is still paying the mortgage and lives in another state.

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1 Lawyer Answer
Charles Snyderman
Charles Snyderman
Answered
  • Wilmington, DE

A: This arrangement is not unusual, but the agreement needs to have protections built in for you. You should not sign an agreement without having it reviewed by an attorney who is looking out for you.

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