The property should be held in an Land Trust. The trust spells out EXACTLY what each party contributed and what they should get back when the trust is terminated (i.e. when the property is sold). It also protects all parties concerned from lawsuits against the others. Their beneficial interests in the trust are “Personalty” not “Realty”. Jointly owned personalty can’t be divided to settle a judgement against any one of the parties. More info available at

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Your mother, grandmother and aunt should pay 33% of the mortgage and not just the down payments.

One of them should also pay 34% instead of 33% or if you have a job then you could buy 1% of the house.

Keep in mind all repairs and taxes should be paid by all the owners too.

Your grandmother can give her property to anybody she wants in her will.

Make sure she writes one before she dies.

It is wise to buy Life Insurance for your grandmother.

Your mother needs to pay the mortgage too.
If your mother cannot afford to pay the mortgage then she needs to pay rent to your grandmother and your aunt.

In this case your mother will lend your aunt and your grandmother some money to buy a house.

Setup an interest rate for the loan and your grandmother and aunt need to pay your mother monthly payments for her loan for as long as they wish. (Perhaps the duration of the mortgage)

If one of them is currently paying rent then this is a good deal.

If all three of their names are put on the title with no further agreement written up, then it will be assumed (in the eyes of the law) that all 3 are equal owners of the property – regardless of who lives there or who put up the money for the downpayment. Further, when anhy of the 3 dies that persons share can either go towards their estate (and whoever was named to receive thie deceased assets via their will) or provisions can be made that the surviving owners buy or just recieve the deceased share of the property (or provisions could be made that the share of the deceased assets go to their heirs but the other owners nonetheless can stay in the property untli they die or everyone decides to sell).

Really many people have done these sorts of things before and a good lawyer can set this up however you tell them. Just make sure you get one that really knows what they are doing.

First get a good real estate lawyer in your state and be very careful how the title/deed reads. There are certain ways that property can be held..tenants in common, joint tenancy and the like, those make a difference at probate. Also make sure there are living trusts and wills to make things a bit more smooth.

I would advise them to consult with a real estate attorney about how to take title. This scenario involves a complex transaction. It’s best to make sure the rights to the property once grandma dies are legally binding by bundle of rights to the property.

Your mother, grandmother and aunt should pay 33% of the mortgage and not just the down payments.

One of them should also pay 34% instead of 33% or if you have a job then you could buy 1% of the house.

Keep in mind all repairs and taxes should be paid by all the owners too.

Your grandmother can give her property to anybody she wants in her will.

Make sure she writes one before she dies.

It is wise to buy Life Insurance for your grandmother.

Your mother needs to pay the mortgage too.
If your mother cannot afford to pay the mortgage then she needs to pay rent to your grandmother and your aunt.

In this case your mother will lend your aunt and your grandmother some money to buy a house.

Setup an interest rate for the loan and your grandmother and aunt need to pay your mother monthly payments for her loan for as long as they wish. (Perhaps the duration of the mortgage)

If one of them is currently paying rent then this is a good deal.