Q: How to Protect My Investment in a Shared Inherited Property (South Carolina)
Earlier this year, my grandmother passed away. Before that, she added my uncle and me to the deed of her home. The house was originally meant for my mother, who passed last year, while my uncle was to receive the "farm" property where he built his house. My uncle has no interest in the house but wants to stay on the deed to prevent pressure from out-of-state family to sell it. I don’t mind, as I don’t plan to sell, and he’s agreed to leave his share to me in his will and sign anything to reassure me.
I’ve taken out a HELOC to renovate the house and plan to move in with my family while renting my current home. Before investing $100k in renovations, I want a legally binding agreement to ensure my uncle can’t make claims later. Since we’re both on the deed and technically co-owners, I’m concerned about protecting my investment as I’ll be putting in all the money and work. Any advice on how to handle this?
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