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    viccon8's Avatar
    viccon8 Posts: 1, Reputation: 1
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    #1

    Aug 30, 2011, 06:35 PM
    Inherited Property
    My husband and his sister recently inherited a home appraised at $630,000. My husband and I plan on moving in and paying his sister half of the value of the home. We will need to "finance" the amount of money we will owe her and was wondering if the loan against the house would be considered a new purchase, refinance or home equity loan. The home is paid for as my in-laws lived in it for 50 years! Also, is there inheritance taxes to be paid. All assets were part of a living trust.

    thanks ~ vicki
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Sep 2, 2011, 03:47 AM
    Quote Originally Posted by viccon8 View Post
    was wondering if the loan against the house would be considered a new purchase, refinance or home equity loan.
    Hello v:

    It'll be considered a refinance, but I'm not sure why you want to know what it's called. What difference do you think it makes?

    excon
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