Nancy
and Paul where high school sweet hearts and
got married to each other at the young age
of 19. The had 4 children together.
Paul had a long battle with lung cancer and
eventually lost the battle during their
40th year of marriage.
They had planned on traveling across the US
in their RV as their youngest child had
finished college one year before Paul's
death and they were empty nesters.
Nancy now stayed alone in the 3 bedroom/2.5
bathroom house that she and Paul had raised
their family in. Nancy's kids didn't want
her staying there alone so her
oldest daughter invited her to stay with her
family in Georgia.
Nancy wanted to move down to Georgia, but
she didn't quite want to sell the old
homestead. She thought about giving the
house to one of her children, but none of
them wanted the house as there were too many
memories attached which may have been too
much to cope with.
When she contacted Schwaps and informed us
of her situation, we proposed that a lease
by Schwaps with an option to buy at the end
of her life may be ideal.
With such an arrangement, Nancy would retain
ownership of the house, and receive monthly
lease payments. If Schwaps were to opt to
buy after Nancy passes, the money from the
purchase would go to her heirs. If Schwaps
opted not to buy, the house would go to
Nancy's heirs.
* The
story above is just one example of the many
ways Schwaps may serve your Real Estate
Needs |