Posted on: 20th Nov, 2012 09:54 am
Can undivided land (inherited) be used as collateral for securing a loan to purchase additional real estate by one of the heirs?
Hi nanci,
If all the other heirs agree to the fact that the land can be used as a collateral in order to get a mortgage, then you will be able to take out the loan.
If all the other heirs agree to the fact that the land can be used as a collateral in order to get a mortgage, then you will be able to take out the loan.
Hi nanci!
Welcome to forums!
It is true that unless you get the permission from all the owners of the property, it will be difficult for you to get the mortgage.
Sussane
Welcome to forums!
It is true that unless you get the permission from all the owners of the property, it will be difficult for you to get the mortgage.
Sussane