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You can do anything that you both agree to. If he's smart, he'll ask you to pay rent and put some parameters on the length of time, required upkeep, and offers that must be accepted. That way you will have incentive to not stay there living on the cheap. One of you buying out the other is always a cleaner option - no loose ends to be misunderstood at a later date. You of course need to come up with half of the equity and be able to qualify for the new mortgage. |