The best way to structure what you want to do is to consult with an experienced real estate attorney to assist you and your father. Most likely transfer of property from parent to child may exempt the property from reassesed property taxes.One possibility is to place the property of your father in a family trust by way of a grant deed. You and your father then enter into a written agreement where you purchase over time a percentage in this property held in the family trust.The family trust per amendments would then reference your increased ownership in the property that you are writing about as you make payments on it. It all depends upon the best way to structure the transaction from a tax and estate planning perspective.