I am working on my finances, trying to get all of my credit card bills and other obligations paid off and then I plan to move (to Omaha where most of my friends live). I live in a small town (less than 200 people) and property values are low and houses do not sell. I recently had my house appraised and it is supposedly worth $31,000 (in a larger place it would be worth over 100,000) but I would have a hard time finding a buyer. difficult child 2 wants my house but has no money and no credit. He does get a check from his income tax with earned income credit each year for over 6000. I told him that if he gives me 5000 from that per year for 6 years, he can have the house. It will take several years before I'm ready to move. It seems like a soulution for me because I can get the house sold and get my money. It seems like a solution for him because he can get the house he wants at a price he can pay and he won't have to pay any interest. My question concerns what to do with the money he gives me yearly. What I would like to do is put it in a savings account and save it till I'm ready to move. At that point we'll do the transfer and put the house in his name. I'll use the money for a downpayment on a different house. That way, if the deal falls through or he's divorced or dead or in jail or whatever, I can refund the money he's paid and try to sell the house on the normal market. BUT I know there are all kinds of rules about buying and selling houses and what you can do with the money and how you have to declare it on your taxes, etc. If I do what I plan, am I going to get in trouble with somebody? Or are there some special rules I need to follow? I really can't afford to dig up the money to hire a lawyer right now. Anybody have any knowledge about this kind of a deal?