Legal Question in Wills and Trusts in California
I helped my boyfriend keep a house that he would have otherwise had to sell in the previously diminished market. What must be in a legal agreement that will give me the $100,000+ he agrees he owes me if he dies before he sells the house and instead the house goes to his only son?
2 Answers from Attorneys
I'd suggest that you have him sign a promissory note for the amount owed. You might also want to talk to a real estate attorney about securing the debt via a deed of trust on the property.
There are probably many different ways to protect and secure the money you are owed. One approach would be to have your boyfriend sign a promissory note and also then sign and notarize a Deed of Trust that can be recorded giving you a lien on the property. That way if he dies you would have an enforceable claim for repayment. You should meet with an attorney so that the appropriate documents can be prepared.
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