What is the best way to handle building a retirement house on my daughters property?
1 attorney answer
There are several ways to structure this transaction. The best structure depends, in part, on whether your daughter is your only child and/or whether you intend to leave your total estate to her.
Assuming there are other children involved, one way to handle this is for you to loan the money to your daughter to build the house and take back a mortgage that would be subordinate to the first mortgage on the property. Then you would rent the house from your daughter. Your mortgage would become an asset of your estate.
There is a lot more involved than just this, so please consult with a qualified attorney about both estate planning and the real estate transaction you are contemplating.