Have you heard of a law that makes it illegal for a sister to sell her home to her brother.?

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My sister recently became ill and unable to make her mortgage payments. I tried to buy it from her as investment property and all was going well until the underwriter found out that we was relatives, they told me that they couldn’t give me the loan, because in Texas there is a law against a brother or sister selling real estate to each other. If this is true please refer me to the source of this law, or tell me about it.

  1. Reply
    May 16, 2011 at 10:25 pm

    I dont think that that is true.

  2. Reply
    May 16, 2011 at 10:52 pm

    there’s no law about it

  3. Reply
    May 16, 2011 at 11:14 pm

    where did you get this information!

  4. Reply
    May 16, 2011 at 11:26 pm

    I have NEVER heard anything so silly. Surely it’s not true. Sounds bogus. I don’t see how legally they can do that.

  5. Reply
    Staci C
    May 16, 2011 at 11:34 pm

    No, never heard about that one. Although I do reside in California, so maybe that is why I have not heard about it.

  6. Reply
    May 16, 2011 at 11:55 pm

    Get another underwriter.

  7. Reply
    May 17, 2011 at 12:26 am

    no where did you here that ?? well Ive never herd of it

  8. Reply
    janice h
    May 17, 2011 at 12:33 am

    I’ve never heard of such a law. I would check with a local attorney and perhaps a local bank. Good luck.

    I live in Texas and have never heard of such a thing.

  9. Reply
    dog lover
    May 17, 2011 at 1:03 am

    That can’t be true. My neighbor who owned the house with both of her brothers bought the house from them & she had to get a loan.

  10. Reply
    May 17, 2011 at 1:21 am

    wow ive never heard of that,,,,, in any state, though i dont live in Texas,, what i would do, is look in the phone book, find an attorney that handles real estate or a basic attorney, then make a consultation appointment, these are usually free or minimal cost,,,,, also there should be a real estate board in your state,, you might try asking them, or finding the government office which would handle something like this, perhaps the deeds office,,,

  11. Reply
    May 17, 2011 at 2:18 am

    No such law! Find a new lender — that underwriter is an idiot! If the underwriter claims that that is the law, they MUST provide proof of that fact. Sales between relatives may warrant a closer evaluation of the value of the home but homes are sold to relatives all the time.

    I could see the underwriter raising a B/S flag if the appraisal was done by a family member but that’s about the only thing that would impede the sale.

    Get an attorney to handle the closing for you. He or she will make sure that there’s no funny business going on. The attorney’s fee should be competitive with a title company’s closing fee and you have a right to choose your own closing agent.

  12. Reply
    May 17, 2011 at 2:38 am

    contact the state’s Attorney General’s office, they’ll tell you what’s up !!! (and turn the underwriter in).

  13. Reply
    May 17, 2011 at 2:40 am

    This is utter NONSENSE!!!

    If I were to write about it, you couldn’t tell my comments from the BOSTONIAN’s comments. He is absolutely correct and his advice is sound.

    Get that attorney as he suggests and you might want to cause the underwriter some grief as well. Stuff like this makes me wish I had pursued law as a career. If I had, I would take this case in a heart beat and it wouldn’t cost you very much either.

    Sorry if I sound furious but I AM.

  14. Reply
    May 17, 2011 at 3:18 am

    That isn’t true. I live in Texas. When my parents got divorced my uncle bought the house. 🙂

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