My brothers and I each own 1/3 of estate property that we want to sale in the near future. Is it possible I could get a loan based on my 1/3 of the estate? With consent of brothers, and how would they be effected?
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My brothers and I each own 1/3 of estate property that we want to sale in the near future. Is it possible I could get a loan based on my 1/3 of the estate? With consent of brothers, and how would they be effected?
Welcome to AMHD. The estate property stands good for the debts of all owners. It is unlikely that you could get a mortgage using this property as collateral without the other owners signing onto it as well; that would serve as their consent. The brothers may have to sign a promissory note as well. Are your brothers married?
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