Legal Question in Wills and Trusts in Maryland

My father passed away and left the house to me through a life estate deed. I am trying to get a loan out on my home equity, but the bank says that the house is not in my name and that I need all of my siblings to sign forms that say the house is mine. Is this true?


Asked on 6/21/11, 5:11 pm

2 Answers from Attorneys
Cedulie Laumann Arden Law Firm, LLC

"It depends." A life estate can be either with or without powers. Whether you can take out a loan depends on whether or not the deed gives you power to do so. A life tenant with powers can take out a loan. A life tenant without powers will need all of the remaindermen (presumably your siblings) to sign.

You may want to have an attorney review your deed.

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Answered on 6/21/11, 6:13 pm
G. Joseph Holthaus III Law Offices of G. Joseph Holthaus

I need to see the conveyance and recorded deed. Contact me to discuss.

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Answered on 6/21/11, 6:20 pm


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