Posted on: 10th Nov, 2013 05:31 pm
I am in partnership with my two brothers on a house can one brother take out a loan on it without the other knowing, we are in CA thanks
Hi Tertow,
One brother can take out a loan on the property on his own. But he should at at least inform and take permission from the other brother.
One brother can take out a loan on the property on his own. But he should at at least inform and take permission from the other brother.
Hi Tertow!
Welcome to the forums!
Adonis is right. As both the brothers are on the property deed, while taking out the loan, one brother should inform the other about the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Adonis is right. As both the brothers are on the property deed, while taking out the loan, one brother should inform the other about the loan.
Feel free to ask if you've further queries.
Sussane
Since both the brothers are in partnership, one brother can obtain a loan without telling the other. However, th brother who wants to take out the loan should at least inform the other one about it.
The above post has been made by Kate Kelley.