Posted by William Bronchick on January 13, 2002 at 09:39:10:
If the trust is revocable, she cannot borrow, since she has no vested interest in the property.
Real Property Title held in Living Trust- - Posted by Mel Colbert
Posted by Mel Colbert on January 12, 2002 at 14:43:33:
My parents have a revocable Family Living Trust in which the title to the family
home is held. My sister is named as a beneficiary in the event that both Trustees
die and the property is sold and divided among the surviving children. Would she
be able to borrow money from a lender based on her “interest” in this property?
I gave her a copy of the trust paperwork, and a friend cautioned me against this!