This is not all that bad an idea IF terms / conditions are agreed upon between you and mom:
1) Your share of the rent comes out to $250 to $300; this is a fair and FIXED monthly rent rate, NOT subject
to increases. Your residency at Mom s also carries NO ADDITIONAL FEES: $ 250 to $300 a month is firm and final. ALL RENT collected from you is to be paid in timely manner as set by Mom ( property owner ) per month
of YOUR residency in Mom's apartment.
2) ALL RENT collected from you goes into a bank SAVINGS account in YOUR name. While actively renting
from Mom, ALL RENT COLLECTED:
a) Will NOT be spent by Mom, her boyfriend/companion, AND/OR your siblings.
b) WILL NOT be spent by YOU, until and not before, YOU VACATE Mom s apartment and live on your own.
3) Upon your vacating Mom s apartment to live on your own, mentioned SAVINGS ACCOUNT record book, checks and debit card attached to said SAVINGS ACCOUNT, is completely handed over to you for the WISE use to abate and ease living expenses and other price inflated expenses that comes with seeking higher education beyond High School ( trade school, community or university college ).
4) ALL ABOVENOTED TERMS / CONDITIONS STATED HERE ARE ACCEPTED AND AGREED UPON BY THE SIGNERS OF THIS CONTRACT, WITH STIPULATION NOTED MENTIONED TERMS STATED IN THIS CONTRACT ARE NOT SUBJECT TO UNANNOUNCED CHANGES FROM PROPERTY OWNER ( Mom ) AND RENTER ( your full legal name here ).
*** PRINT full LEGAL name and SIGN BELOW that. *** Make copies of this contract; original goes in safe deposit box ATTACHED to mentioned SAVINGS ACCOUNT.