“Man A” is single, owns a home, has excellent credit, wants to sell within 6 months and is contributing 1/2 of the purchase price.
Man B is single, does not own a home and has a huge outstanding debt and horrible credit. (He is our connection to the house). He has no preference to sell right away or keep the property for several years. He is contributing nothing toward the purchase price and agrees that his name should not be on the title.
I am married and own a home, have excellent credit and am interested in keeping the property as an investment for several years. I will contribute the other 1/2 of the purchase price in cash.
Should I take title with Man A as individual tenants in common? Or is it better form a partnership? Any ideas on how to pay off Man A early so I can keep the house?
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