Virginia Beach, VA asked in Real Estate Law for South Carolina

Q: Our sister i law is purchasing a 2nd home in Myrtle Beach we plan on buying it down the road therefore we are paying the

the down payment and closing we can not be included in sale a s partners etc due to our credit and mortgage going through .. Can we after closing write up a partnership letter through an attorney for the amount and get a write off ??

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1 Lawyer Answer
Andrew "Andy" Potter
Andrew "Andy" Potter
  • Anderson, SC
  • Licensed in South Carolina

A: Actually, your deal with your sister in law makes me a little uncomfortable. Is the mortgage company aware where the down payment for the property is coming from? I would advise you to speak with an attorney in person with the complete details as I think you are getting very close to mortgage fraud.

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