Location: Alabama
Submitted 02/15/12 03:55 PM

Q. March 1, of 2005 I moved in a house my sister owns, it is a section 8 house, I am renting to buy have paid house, insurance and house taxes since then, when the house is paid off she will sign it over to me, but I have nothing in writing, how can I protect myself by making it legal that I am buying the house since it's not in my name?

 

Answer #1
Submitted 05/28/12 04:15 AM
Charita Cadenhead, Your Birmingham, AL Realtor® of Choice, Charita Cadenhead (Keller Williams Realty): Agent in Birmingham, AL Charita Cadenhead, Your Birmingham, AL Realtor® of Choice, Charita Cadenhead (Keller Williams Realty)
Agent
Birmingham, AL

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A.

It seems to me that what you have is a verbal agreement and in matters as serious as this, you agreement should be in writing.  Memories fade but your contract in writing would provide proof of contract terms.  You should contact a lawyer to draw up a real estate contract and don't be afraid of the cost of doing so.  It will be worth especially since business arrangements with family and friends can often go wrong.  Any by the way, there is no such thing as a Section 8 house.

Answer #2
Submitted 05/29/12 05:09 AM
Bonnie Hicks (RE/MAX MarketPlace): Agent in Trussville, AL Bonnie Hicks (RE/MAX MarketPlace)
Agent
Trussville, AL

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A.

Are you renting the house through Section 8 now or was it approved by Section 8 and rented previously under Section 8?

Either way, You do need a rent to own contract with your sister and need to have it drawn up by an attorney.  If section 8 is paying the rent for you, not sure if this would make a difference with the rent to own contract or not.  Just contact an attorney and discuss the situation with him.
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