Hello all! I’m wondering if someone here could help me with something that I can’t find the answer to on Google.
My husband and I want to buy a home, but the homes in our area are currently more than we can afford. We COULD afford it once we both work full time (he does, I currently only work part time because I do various therapies with my daughter who has ASD during the day). I plan on working full time in a couple of years once she starts school.
In the mean time, my mother also lives with us. She is more than willing to get a mortgage with us (my mother is going to live with us until she passes away, we aren’t kicking her out), meaning we could afford a home now as opposed to 4+ years from now. My question is: if we did buy a house with my mom in order to qualify for a higher mortgage amount, what would happen to her share if she were to suddenly pass away?
I have two brothers. Would her share of the house be divided equally amount myself and my two brothers? Or without any kind of will in place, would her share of the home just go to my husband and myself since we are the other borrowers?