Reverse Mortage on a Quit Claim deed
a Quit Claim deed was filed with a Life Estate, can the person having the Life estate do a reverse mortage since he has the right to sell of gift away the house?
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Read More Answered By: Scott R. Jay |
Re: Reverse Mortage on a Quit Claim deed NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
A life estate is less than the entire fee and it is doubtful that any lender would loan the person any monies on this property unless this person is able to get the entire title in his or her name alone.
Scott R. Jay, Esq. |
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