My parents overseas might be willing to pay half the cost of a house since they will occasionally stay over. My wife is Japanese and qualifies for a home loan.
If my wife and I put up 50% of the house price via loan; and my parents put up the other 50% via cash from overseas, is this possible?
Will ownership be split 50/50 on the title of the house? I’ve asked a few realtors and all of them say they don’t have experience with it. Is there a particular company that specializes in this sort of thing?
Also, is it possible if we already own land, to split purely the cost of building a new house 50/50? Since we’d already own the land, how does the split look then (for legal purposes, my parents want to just gift the money but I am under the impression that would incur taxes).
by _crossroads_