Not sure if this is the right group for this post but any advice would be helpful.My husband and I live on his families farm. They recently bought us a $700,000 house/plot of land and bought it with cash (the farm brings in close to a billion dollars a year). My husband and I received this house as a gift from the farm as long as he takes over ownership with his brother (so yes there is sort of a deal we’ve made). My family mentioned to me that although it is nice of them to provide housing for us, it’s a negative thing that my husband and I don’t have a house as an asset under our names. It’s under the farms name. Why would this be a negative thing?
Read more at https://www.reddit.com/r/RealEstate/comments/1cadkq1/family_farm_bought_us_a_house/?utm_source=ifttt
Majeed Ekbal's Daily Blog 