I have an elderly neighbor who needs an income but does not want to leave their home.  I am willing to enter into a real estate option agreement with monthly payments made to the owner with the option to buy the house (at below market price) less total cash payments upon the death of the owner.

The problem is that under such an agreement, the property would have to go through probate before I could execute my option (I think).  Is there a better way to accomplish this with a Land Trust or a Living Trust?

Answered question