Q: We’re buying a Maine home with inlaw unit with our only child and his wife, no mortgage.
Both familes are sharing the cost of the property. Should we put it in JT with ROS to protect all parties, or just put it in the name of my son and his wife.
A: The answer depends on a number of factors, including what the goals of the parties involved are. I would recommend you discuss your situation with a Maine attorney, who can provide you with guidance and advice once he or she has a better understanding of your circumstances and needs. My partner, Cecilia Guecia, regularly handles transactions like this and I am sure she would be happy to speak with you. Please feel free to call her at (207) 846-6111 or email her at firstname.lastname@example.org.
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