You can disclaim any inheritance that you don't want.
However, you must do so in writing and you must specifically identify the property. You must disclaim the property within 9 months of when your interest in the property was created. You must not specify what is to be done with the property (you cannot, for example, specify that it should be given to someone else). You cannot have accepted any benefit from the property (you cannot, for example, live in the house or collect rent for eight months and then decide you don't want it).
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.
Generally, you need a license from the court to mortgage the property.
Your estate is responsible. If the equity mortgage is not paid the bank will foreclose on the property.
An equity investment, on the other hand, represents a residual interest in the property. When you are an equity investor, you are essentially the owner of the property. You stand to gain a lot when the property value increases or if you are able to get more rent for your building.
Equity is current market value of the property minus debt (what is owed on the property). For example, if your property is worth %500,000 and your balance in your mortgage is $400,000, your equity is $100,000. If you have any more questions you can ask a real estate agent, loan officer, or an appraiser.
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.
yes, wells Fargo is willing to do this.
Yes.
You do not have to accept an inheritance. You can certainly waive your rights to any property bequethed to you. That portion of the estate will then be distributed according to the will as if you did not exist.
It is possible to settle an estate without selling property. As long as the distribution is approved by the court, the property can be transferred to the beneficiaries.
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.