Posted on: 09th Aug, 2010 01:31 pm
is beneficiary allowed to ask for a loan onfrom a trust that gives the beneficiary 1/6 interest in the real estate while the grantor is alive?
Hi turnercarol!
Welcome to forums!
If the grantor is still alive, then though the property is in trust, yet it would be considered as the grantor's property. In that case, the beneficiary may not be able to get a mortgage using the trust property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the grantor is still alive, then though the property is in trust, yet it would be considered as the grantor's property. In that case, the beneficiary may not be able to get a mortgage using the trust property.
Feel free to ask if you've further queries.
Sussane