Home Equity and Refinancing
Estates
Deeds and Ownership

Can you borrow money on a property that has a life estate?

151617

Answer

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Wiki User
12/18/2013

Any person with an interest in the real estate would need to sign the mortgage so that the lender could foreclose in case of a default. Therefore, the fee owner, or remaindermen, can mortgage the property only with the written consent of the life estate holder. The holder of the life estate can only mortgage the property with the written consent of the fee owner.