From Dow Jones & Company:

Parents sold their condo to move into son’s, promising to cover his mortgage. But, daughter expects 50% of the sale proceeds as part of her inheritance, complicating the situation. My sister and her ex-husband promised to repay my loan. They never did. Is this legally binding? You’ve got to seek legal counsel and set up rental agreements to ensure clarity and fairness in these complex family financial arrangements. There are many factors to consider and options to explore, so it is always best to seek out professional advice and consider all parties’ interests.



Read more: My parents want to pay off my mortgage, and move into my rental. Is this risky?