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It is unlikely a lender would advance any money to you on your life estate. If you died the life estate would be extinguished and the lender would have nothing. The most valuable aspect of a life estate is your use of it during your lifetime. Therefore, it's valuable to you but no one else.
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∙ 14y ago
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Can a verbal agreement create a binding life estate?
A life estate must be granted in writing or by a court order by a court of equity.
Who owns the house equity in a life estate deed?
The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.The owner of the fee owns the equity in the property. The life estate holder only has the right to use and possession of the property for life. However, the life estate holder must consent to any mortgage affecting the premises.
How does one get real estate equity?
Real estate equity is the market value of the property after subtracting outstanding loans. You can improve your equity by making payment towards the loans.
Can a home equity loan be taken against property under life estate?
yes, wells Fargo is willing to do this.
Can you take away a life estate if the life tenant does not have insurance or devalues the estate?
You would need to take the case to court and obtain a court order extinguishing the life estate.
Spouse dies with a will that gives to her children. surviving spouse wants to stay in the house. Does he have to sell house in order to pay her children half of the equity or does he get a life estate?
In Texas, the suriving spouse has a life estate and does not have to sell.
Is real estate liquid money?
Real Estate is considered equity, not liquid.
How does a life estate deed supersede a will?
If a person was granted a life estate in property and then the owner dies, the property remains subject to the life estate. Even if the decedent leaves the property to a different beneficiary in the will, the property passes subject to the life estate.
What does initials PE stand for after a real estate agent's name?
I guess PE for Real estate means Private Equity, though I'm not sure. Private Equity is an institution who raise funds which purpose is to acquire equity ownership in companies.
Who pays your home equity loan when you die?
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
You are an administrator for an estate can you make a home equity for the estate?
Generally, you need a license from the court to mortgage the property.
Can a life tenant stop paying property taxes on a life estate?
No. Paying the taxes is their legal obligation and they may lose their life estate if they fail to pay. That action would provide the fee owner or remainders a reason to take the life estate to court for termination.No. Paying the taxes is their legal obligation and they may lose their life estate if they fail to pay. That action would provide the fee owner or remainders a reason to take the life estate to court for termination.No. Paying the taxes is their legal obligation and they may lose their life estate if they fail to pay. That action would provide the fee owner or remainders a reason to take the life estate to court for termination.No. Paying the taxes is their legal obligation and they may lose their life estate if they fail to pay. That action would provide the fee owner or remainders a reason to take the life estate to court for termination.
