Being a co-signer means that you are liable for the mortgage in the event that he doesn't pay.
In essence, the real question is this: are you're willing to give your brother in law a house? If the answer is yes, go for it. If the answer is no, let him figure it out on his own.
Thank you for the response! I could also just buy the house 100% in my name and he would rent from me. I just wanted to kick start his professional life in owning even 50% of a house
How is reducing his ownership from 100% to 50% "kickstarting" anything other than keeping him financially tied to family?
He is moving out for the first time. Let him buy his 1/1 condo and let his new adult life be ALL HIS and not half yours. He will be thrilled to finally have his OWN place. He can work towards upgrading over time just like everyone else does.
I know you mean well, but just let him be independent for the first time in his life. If you want to help him out financially, you can give him a cash gift that he can use towards down payment or renovations or furnishings or whatever.
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u/tdpdcpa 26d ago
Being a co-signer means that you are liable for the mortgage in the event that he doesn't pay.
In essence, the real question is this: are you're willing to give your brother in law a house? If the answer is yes, go for it. If the answer is no, let him figure it out on his own.