DB and SIL are divorcing. They jointly own a house, with a mortgage. DB would like to stay in the house, but won’t be able to get a mortgage big enough to buy out SIL.
DM has suggested that she buy SIL’s share of the house, then DM and DB would own the house jointly. Is it possible to buy “half a house” like that?
The bulk of the settlement is SIL’s share of the equity in the house, so DB would have to pay SIL some money on top of the money DM would pay for the house. If DB paid “his” part of the settlement directly to SIL and DM paid “her” part directly to SIL, is that allowable? Not sure if all of the money has to be transferred directly from DB to SIL, or whether it’s a case of as long as SIL receives the full settlement, it doesn’t matter how it is paid/who pays it.