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You don't say what state you're in, and that could make a difference as real estate law varies from state to state. You need advice from a professional, preferably a real estate lawyer in your jurisdiction, or at least a very save real estate broker/appraiser. Problem is the most competent advice, from a real estate lawyer, is expensive. But, there's real money involved here, and it strikes me as worth the $250-500 you'd pay a good real estate layer for a consultation. If you're going to do the deal, you'll need a lawyer in most states anyway.

Hey thanks,

The property is in Texas - Corpus Christi which is along the Gulf of Mexico Coast. I live in Maryland.

That city has not been hit with a big hurricane in decades but it's always possible.

I agree with you about getting consultation. I always do things myself but then I pay big or create more problems. Thx.

I think I will tell my wife no; I will tell her that more needs to be done if my name is going to be on anything.

It's just that they want to move fast on this deal as the Father in Law is ready to sell.

I guess I'll tell them to sell. This itself might create discord in the family

So my visits to Tx may turn interesting. : )