10

She would like for my mother to pay her $500/month (as a tenant) That is the key. has asked me to contribute $250/month since she is the one "taking the risk" of owning the property What she is really saying (whether she knows it or not) is that she wants her mother to rent the house for $1000/month, and for you and your sister to pay half of ...


7

The best way to look at it: Imagine it wasn't your sister buying the house, but a total stranger. So some stranger takes $80k of their own money and an $88k mortgage to buy a house, then they rent it for $1000 a month to your mother. Since your mother doesn't have that money, she pays $500 a month, and your sister and you pay $250 each. Would you agree to ...


2

The bottom line is there is no "fair" in this case. You are not obligated to contribute to your mother's living expenses or is your sister. However, either one of you may choose to do so out of the goodness of your hearts. Depending upon the actual age of your "aging" mother a home may not be a good idea. It may be a very short lived ...


2

Your sister is taking on more risk so it makes sense that she get a more substantial share of the gain. There are a lot of other questions to ask. Who is paying for repairs/insurance/new appliances/etc? There are also contributions that aren't financial (time/energy for DIY repairs or effort in dealing with contractors/shopping for new appliances, etc). When ...


1

If (and only if) your sister wants to become a landlord, then she can buy the house however she wants, and rent it to whoever she wants (presumably your mother, in this case). She should charge the tenant (your mom) a fair market rent. I hope your sister is considering all of the other expenses and aggravation that go along with being a landlord like taxes, ...


Only top voted, non community-wiki answers of a minimum length are eligible