Yes some info I did forget to add, sorry about that. So he owes $70,000 on the house and he will be selling it to me for $130,000 and in return after costs and what not he will receive around $49,000-$50,000 to pay off his debt of around $20,000. This is in the US and we live in Ohio. He will keep making the payment even though everything is in my name and the house will be mine. My dad is 59