My father recently passed away and left his paid for home to my 12 year old daughter in trust. Is it possible for me as her father to take an equity loan on the home to pay for the taxes untill she is able to own house at 18?
1 Answer from Attorneys
I would not under any circumstances take an equity loan on the house without
petitioning the court and justifying to the court why such a loan needs to be taken out.
Courts in Tennessee do not actively involve themselves in trust matters unless they are asked to decide an issue but I believe this an issue that the court needs to make a decision on.