Answer to: Siblings buying grandparents' home as first time buyers. Please help me identify our blind spots

The easiest way to do this is to just have them buy the house. Joint ownership and joint mortgages are extremely common; they are normally done by couples, but the principles are absolutely the same for non-couple (or even unrelated) people and you will have little trouble getting a mortgage. It's a real mortgage and so builds credit. A trust is an unnecessary complication. What you need to do as well is get a lawyer to make up a written agreement stating who is responsible for what regarding the house and mortgage payments, and what happens to the house under various circumstances. The lender will want the grandkids to be "jointly and severally" responsible for the mortgage, meaning that both are responsible for paying if the other one stops for some reason. The agreement will need to cover what happens in those circumstances As well as that, circumstances you need to cover include: Death of one of the grandchildren; One of the grandchildren deciding they don't want to live in the house any more; Deciding to sell the house - who gets the profits (or losses). Your lawyer will tell you of others. It's important to cover all the circumstances even if you think they are never going to happen.