Posted on: 27th Mar, 2013 05:17 pm
If the home is has a reverse mortgage is there a need or reason to have a enhanced life estate deed?
Hi grb!
Welcome to the forums!
If there is a reverse mortgage on the property, then I don't think the property owner will be able to go for a enhanced life estate deed. Nevertheless, it will be better if you could get in touch with a real estate attorney and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If there is a reverse mortgage on the property, then I don't think the property owner will be able to go for a enhanced life estate deed. Nevertheless, it will be better if you could get in touch with a real estate attorney and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome grb,
If there is a reverse mortgage on the property, then only senior citizens who are 62 years or above of age can be the owners. So, I don't think an enhanced life estate deed can be used in this case to transfer the property to the heirs.
If there is a reverse mortgage on the property, then only senior citizens who are 62 years or above of age can be the owners. So, I don't think an enhanced life estate deed can be used in this case to transfer the property to the heirs.