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My dad bought a house from my aunt for 75,000 a few years back but they never changed the name in the tittle so it's still under their name. My parents have a house together right now and plan to give it to my older sister when they pass. I wanted the other house and I plan to move into it next year around May I'll be 20 on May. we want to change the house to my name since my parents dont want their name on two house and it will be mine anyways. I can't put that I paid the 75,000 cash because they will ask where I got the money so mom said to say I was renting it to own it from my aunt.

I want to change the title of the house to my name. So is putting that I was renting to own a bad idea because I'm only 19? (Putting that I was renting it to own for a while now and that I have finally paid it off) I don't have an actual job. I worked at a grocery store for 2 years. Now I thrift and sell online and I make good money that way. I don't plan on getting a job because I will be able to pay my bills with what I make thrifting. I also have $10,000 saved from my own saving. I live with my parents right now. I also don't have any credit right now. We live in Florida and the house is in Florida.

  • I'm confused. On what document do you want to put that you are renting the house? – Ben Miller - Reinstate Monica Aug 11 '16 at 22:35
  • The house tittle. I want to put that I was renting to buy it and that I have already paid it off. – Jane doe Aug 11 '16 at 22:40
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    Please don't commit fraud. Don't sign a document that claims you did something you didn't. This is a criminal offence. – ChrisInEdmonton Aug 12 '16 at 0:01
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    Easy answer... I'm pretty sure that if your parents' names aren't on the deed, they don't own it. So they can't give it to you. Your aunt owns it. – user11599 Aug 12 '16 at 1:45
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    How much is the house worth (approximately)? Substantially more than $75k? – Joe Aug 12 '16 at 21:13
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If your parents are not on the deed then I am not sure how it could be their house. It seems like the sale was done unofficially. If your parents or aunt pass away this could be a real mess. Make this official ASAP.

It might be possible for your aunt to gift you the house. This may have tax implication but the article below suggests that it may not be an issue.

http://www.bankrate.com/finance/real-estate/aunt-be-taxed-for-bargain-price-on-house.aspx

As you're probably aware, owning a house is expensive. Make sure you can afford taxes, bills, and maintenance. Things add up fast.

EDIT

I should have address the "rent to own" plan. If you plan on transferring the house from your aunt to you by renting with $0 monthly payment and then claiming it is all paid off, then I think this would be considered a gifting of the house from your aunt to you. It sounds like fraud to claim you paid something that you didn't. In the end, it is either a gift from your parents or from your aunt. The sooner you get the house in your name the better

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