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Old 06-16-2011, 07:59 AM
 
1 posts, read 1,089 times
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My mother passed away, but prior she placed me on the title of her home. She also had a trust which listed me and my nephew. Within the trust it states that my nephew when he comes to age 25 will be entiltled to ownership. I guess that would work out to 1/4 since I'm already listed on the title and within the trust. My problem is that I would like to take complete ownership and since my nephew is only 13 years old I don't know if I can buy his share of the house. Also what are the tax implications in our current situation. Does he bear any responsibiltiy? I'm currently living in the house and paying the mortgage.
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Old 06-16-2011, 08:28 AM
 
Location: 92037
4,630 posts, read 8,382,764 times
Reputation: 1921
Not sure. You might want to try and post this in the real estate forum though.
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Old 06-16-2011, 10:17 AM
 
4,424 posts, read 6,512,658 times
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You should speak with an estate attorney....these things can be very tricky.
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