I “Bought” a House but It Isn’t in My Name

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 3 March 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by CHM, a biblically based alternative to health insurance.
0:06.3	Learn more at CH Ministries.org slash budget.
0:09.6	So me and my wife's been married for a year now.
0:13.2	We're on baby step two.
0:15.3	We're tackling her student loans.
0:18.1	And then about three years ago, I bought a house from my aunt and uncle, and they were
0:24.6	in some tax problems. They couldn't sign the house over to me. Oh, no. I know. But, so we've got
0:33.7	two years left until they can sign the house over to me, deed it over to me,
0:38.3	and I will, right now currently I still owe them $60,000.
0:43.0	And I'm just curious if I should sock that money away after I'm done paying student loans off
0:50.0	and then just keep it in a bank.
0:51.3	And then that way two years from, I can just, you know,
1:00.6	deal is done. I don't have to take a mortgage out, or should I go into investing after we pay off student loans?
1:08.1	Oh, boy. I'm still stuck on the fact that you didn't buy a house. You thought you bought a house.
1:11.8	What was the legal process for you to buy a house that couldn't even go into your name?
1:14.9	Well, it's a handshake agreement?
1:17.4	Yeah, pretty much.
1:18.4	Oh, my goodness.
1:19.7	Is there anything in writing?
1:24.1	Yeah, we do have, we did write something out that we all signed.
1:26.8	This whole thing just worries me.
1:28.6	I mean, what if they don't get out of this mess?
	...

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