I live in a small condo that my mother owns (fully, with no mortgage.) However, the condo rules state must be owner-occupied only. They are ...

Question

I live in a small condo that my mother owns (fully, with no mortgage.) However, the condo rules state must be owner-occupied only. They are now enforcing it. My mother is willing to add me to the title/deed. Since there would be no money exchanged, is there a way to add me without having 50% stake if it was sold in a year or two? Like only 20% or less or none?

Answer

There are a number of ways to give you some legal ownership in your mother's condo to meet the condo rules and still protect your mother's rights. One question up front would be: who will an attorney represent when drafting this, you or your mother. Once you have an ownership interest, if you have creditors that could attach any of your property, that would include the condo. Consequently, there are many factors to consider, and an experienced attorney should be consulted to assure that everyone's rights are considered.

Good luck in your endeavor.