Posted by River City on March 17, 2008 at 08:05:50:
You might want to pose this question to a real estate attorney or a mortgage company rep in your area. They should be up to date on how your state’s laws work.
Joint Tenancy and Home Equity Loan Question - Posted by Barry
Posted by Barry on March 14, 2008 at 05:34:29:
In a Joint Tenant situation(with full rights of surviorship) where the original owner (Grantor) of the home is still living in the home and has Gift Deeded (Deed has been recorded) the property to to a family member(Grantee), is it possible for the Grantor to secure a home equity loan against the property with out consent of the Grantee?
I’m assuming they could not do so without the Grantee’s signature, as the grantee’s name is on the deed as well, but not quite sure how that would work.
I guess what I’m asking is, if the Grantee would have any say so in the matter if the Grantor is still living, and the property has not fully been passed on to the Grantee yet. The property is in Virginia if that makes a difference.
Thank You.
Barry