what type/recommend your lawyer

Hello all,

We co-own our 2 family home with my SIL/BIL. We really need to draw up legal "exit" plans. What kind of lawyer should I go to and do you have any recommendations?

Also, I pay my mom's home equity loan, and she would like to make sure I am paid that money when she passes and then her assets are split between myself and my brother. Again, what type of lawyer should we go to? any recommendations?

Sorry I'm so naive when it comes to types of lawyers. Any help is greatly appreciated!!!!

Re: what type/recommend your lawyer

For the first you can go to a real estate attorney because it would really depend. Are you all on the mortgage? If you are and you want out your SIL/BIL would have to buy you out and would have to refinance if you are on the mortgage to do so. If they want out then you would have to refinance and they would have to buy you out.

For the second you would have to go to a wills/trust attorney and your mother's will would have to specify that you should receive what you have paid back in the mortgage. Wills can be set up that all debt is to be paid off meaning remaining balance on the mortgage would be paid off and then any remaining monies left after debt is paid off would be split between your brother and you. In this case though you would have to be paid back what you have paid toward the home equity loan which would need to be spelt out in the will.

Re: what type/recommend your lawyer