Posted on: 17th Feb, 2011 11:32 am
my parents deeded me 20 arces & house in Indiana. My mother has since passed but my dad has a life estate. My 93 yr old father is still lucid. However, the house is rundown & need of repairs. Even though the deed is in my name. the bank will not give a equity loan without Dads signature. He will not agree. I am also concerned if he has to go into a nursing home for years, the house will continue to fall apart. Is there anything i do to get needed monies now ?
Hi Guest,
As your father's name is mentioned in the life estate clause, he should agree to sign the loan documents. You should convince your father to sign the documents so that you can get a loan.
As your father's name is mentioned in the life estate clause, he should agree to sign the loan documents. You should convince your father to sign the documents so that you can get a loan.