buying a house as a conditional resident

[newlyweds2010 208]

Quite frankly, I would be surprised if his parents agreed to graciously donate the money and have the house under both spouses' names. It is not a matter of disregarding the relationship, it is just a matter of protecting their assets. I assume they did not win the money at the national lottery, and that earning that money cost them time and effort. To the OP: you are free to tell them 'no thank you'. I suspect that in that case they will not give him any money to buy any house. To those who say that without her he would not have had the "great privilege of buying a house in America (really? Will all those property taxes you call it a privilege?!): foreigners make real estate investments in the US all the time, without being residents or without living here. Plus, he could have bought a nice house someplace else.

[anajnic 87]

Quite frankly, I would be surprised if his parents agreed to graciously donate the money and have the house under both spouses' names. It is not a matter of disregarding the relationship, it is just a matter of protecting their assets. I assume they did not win the money at the national lottery, and that earning that money cost them time and effort. To the OP: you are free to tell them 'no thank you'. I suspect that in that case they will not give him any money to buy any house. To those who say that without her he would not have had the "great privilege of buying a house in America (really? Will all those property taxes you call it a privilege?!): foreigners make real estate investments in the US all the time, without being residents or without living here. Plus, he could have bought a nice house someplace else.

He should buy a nice house someplace else I think.

[newlyweds2010 208]

He should buy a nice house someplace else I think.

I agree, someplace where they don't make houses of wood and cardboard and still sell them for a fortune. But he lives here and he is free to buy where he likes.

[anajnic 87]

I agree, someplace where they don't make houses of wood and cardboard and still sell them for a fortune. But he lives here and he is free to buy where he likes.

Then dont buy it.. Whats the problem?

[JohnR! 5,495]

Quite frankly, I would be surprised if his parents agreed to graciously donate the money and have the house under both spouses' names. It is not a matter of disregarding the relationship, it is just a matter of protecting their assets. I assume they did not win the money at the national lottery, and that earning that money cost them time and effort. To the OP: you are free to tell them 'no thank you'. I suspect that in that case they will not give him any money to buy any house. To those who say that without her he would not have had the "great privilege of buying a house in America (really? Will all those property taxes you call it a privilege?!): foreigners make real estate investments in the US all the time, without being residents or without living here. Plus, he could have bought a nice house someplace else.

The money ceases to be their asset the moment it is given to someone else, does it not?

[newlyweds2010 208]

Then dont buy it.. Whats the problem?

He is free to buy or not to buy, and since the gift comes from a third party, this third party is free to set conditions on the gift. Take it or leave it, there is not much to negotiate. No conditions = no house. Their call, ultimately.

[newlyweds2010 208]

The money ceases to be their asset the moment it is given to someone else, does it not?

When you make a donation you can set any conditions you want. Before they give the money to their son, the money is still theirs. Therefore, unless they agree to have the house under his name only, they will not get the money to buy the house. Does it sound this strange? it does not to me.

[JohnR! 5,495]

When you make a donation you can set any conditions you want. Before they give the money to their son, the money is still theirs. Therefore, unless they agree to have the house under his name only, they will not get the money to buy the house. Does it sound this strange? it does not to me.

It sounds very strange to me but I think it is a cultural thing.

I wonder if they had any similar reservations when their daughter-in-law had to sign an affidavit of support in order to get their son to the US.

[anajnic 87]

It sounds very strange to me but I think it is a cultural thing.

I wonder if they had any similar reservations when their daughter-in-law had to sign an affidavit of support in order to get their son to the US.

Love ittttttt!!!!, I agree with this comment..exactly

[del-2-5-2014 1,339]

It sounds very strange to me but I think it is a cultural thing.

I wonder if they had any similar reservations when their daughter-in-law had to sign an affidavit of support in order to get their son to the US.

That's a red herring.

The contract is between their Daughter In Law and the US Governement, it has nothing to do with the parents. Maybe the Parents are more savvy that the US government on these matters.

The issue at hand is between the parents and their offspring, not the same and I am quite surprised that you tried to compare the two.

[del-2-5-2014 1,339]

FOlks here is how it works, a lesson for those who are lucky not to have entered family courts.

Let's say this goes through and the parents gift the Son $500,000 and stipulate that it is a loan to him. I use loan as this is really not a gift.

Son buys 1,000,000 house and mortgages 500,000. If Husband is smart he will not allow Wife to spend not even a cent on the house, no house bills and nothing towards the mortgage especially.

Excrement hits the fan (we don't like to admit it but the US is notoriosuly a cesspool of divorce cases). Judge will have the properties sold or awarded. First thing on the house is the bank get's their 500,000, then the parents gets back their loan adn the lovebirds can split any -/+

I continue to support the Parents looking at this as a business venture which those of us that have been divorced knows that it is what literarily a marriage is at the end.

Now all that being said, if the Wife feels so strongly about this then they shoudl refuse the loan and they can couple up and buy their own house on their own terms.

Shikena.

[JohnR! 5,495]

That's a red herring.

The contract is between their Daughter In Law and the US Governement, it has nothing to do with the parents. Maybe the Parents are more savvy that the US government on these matters.

The issue at hand is between the parents and their offspring, not the same and I am quite surprised that you tried to compare the two.

My rationale was that in signing the I-864 for their son to get his greencard, their daughter-in-law put her assets on the line for the duration of the affidavit. It would stand to reason their son to feel the same way towards his wife.

[bewildering 9]

It sounds very strange to me but I think it is a cultural thing.

I wonder if they had any similar reservations when their daughter-in-law had to sign an affidavit of support in order to get their son to the US.

Indeed, good point.

As Vanessa points out above there are issues with not having your name on the deed.

For instance, if the husband dies in 5 years then who gets the house? Will the parents allow the wife to stay in her home if she does not have survivorship benefits? Will they ask her for the money back? Will she be forced to leave? What about children, would they inherit the home or would the wife? This whole situation makes the wife's life uncertain.

If the parents want to help out, they should give the money to couple. There should be no preconditions.

If I were in the wife's position i would say no to the money.

[del-2-5-2014 1,339]

My rationale was that in signing the I-864 for their son to get his greencard, their daughter-in-law put her assets on the line for the duration of the affidavit. It would stand to reason their son to feel the same way towards his wife.

I know where you are coming from but you cannot ask the Parents to reciprocate to the Daughter In Law.

The DIL felt comfortable enough to expose herself financially (we all do on this site) but that doesn't mean the Parents have to.

I-864 fo rmy Wife is a matter of necessity and in fact I would go further and take out a bond but I wouldn't expect my Parents to have the same level of confidence.

[JohnR! 5,495]

I know where you are coming from but you cannot ask the Parents to reciprocate to the Daughter In Law.

The DIL felt comfortable enough to expose herself financially (we all do on this site) but that doesn't mean the Parents have to.

I-864 fo rmy Wife is a matter of necessity and in fact I would go further and take out a bond but I wouldn't expect my Parents to have the same level of confidence.

Nobody should ask the parents to reciprocate. The very fact they offered the money with strings attached denotes the necessary lack of tact and consideration such an action would require.