Updated over 11 years ago on . Most recent reply
not a gift
I want to purchase a house in which my aunt and mom are 50/50 owners. I would just be purchasing my aunts 1/2. Financing for this is becoming a real pain. I have a wealthy friend who is willing to give me the $ to cover the 1/2 to satisfy my aunts share. He is not looking to tie his money up for more than 3 years so this will give me an easy way to pay my aunt and then refi and pay him back. He only wants 2% a year. Is this even legal?