My friend and his dad are joint owners of a private property which they are currently living in. He is getting married next year and wants to transfer ownership of the house to his dad and mom so that he can buy a home closer to his in-laws.
Main intent of the transfer is to avail 80% loan for his next purchase with his wife as joint owner.
Is this feasible. How much $$ involved in legal stuff to get this done. Any concerns to share in this type of arrangement. Thanks