<prompt> Human: Hi PF. My parents are planning to retire a few years early and move away from New York to another state.They are thinking of buying a cheap house about 30,000 40,000 middle of nowhere in either Arizona or North Carolina. The issueconcern here is that theyre trying to buy it under my name. What are some financial benefitsconsequences from this plan? Is there a downside of owning a house at the price range? Perhaps taxes? note: please know that I am not worried about my parents missing mortgage payments Some information about my family that may help you understand my situation includes: My parents and I live separately in New York. My mother 61 works, but father 63 does not. They have about 35,000 in savings. I 30 work, but almost paycheck to paycheck. I have about 30,000 in savings. My parents and I both have good credit scores.Id appreciate any advice as I am quite ignorant when it comes to properties note: my family never owned a house. Thank you in advance. Cheers.Edit: Thank you for all your advice. My parents certainly do not mean to commit a fraud or take advantage of me. My family has never owned a house before, so were all very ignorant of how this works. More importantly, I am learning from your comments that parents buying a house under my name could APPEAR as a fraud. And that may be sufficient to bring troubles ahead despite innocent intent. I will bring this point with my parents so we can plan more prudently.Thank you all!  <response>: Whats their stated reason for buying it in your name? At a glance it sounds like theyre trying to get you to help them with medicare fraud. Edit:sorry, this makes me look like a cynical assLiability wise, I think youre looking at being on the hook for the mortgage, as well as if anyone got injured on the property. 