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My mother in law signed over a house she inherited to one of her sons. In order for my mother in law's siblings to receive share of the house, that son took out a loan to "buyout" his mom's siblings for the share of the property plus he took out additional money for his personal use to buy his own house-grand total of loan~400K. The property is in Cali. Is there a way he can sign over the 1st house to me and I takeover payments. Or if that isn't possible, if the house is sold to me for 200K what will happen to the rest of the money he owes for taking out that 400K loan? Is that something he will still owe the bank or will that obligation be transferred over to me? I would really like to get that house in any way so that way she can live with me and not become homeless. My mother in law would not rather live with that son in his own house due to issues with his wife. Any thoughts anyone?
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