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Owner & Co-Owner in joint tenancy w/ right of survivorship

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sennome Joined: 07 Jun 2009 Posts: 1 1.00 Dollars($)	Posted: Sun Jun 07, 2009 9:31 am    Post subject: Owner & Co-Owner in joint tenancy w/ right of survivorsh Like 0 Dislike 0 If my partner (co-owner) and I (owner) own our home in joint tenancy with right of survivorship (we still have a mortgage)and one of us wants to take out an equity loan / HELOC against the property, can one of us do this without the other's consent? Or, would both individuals (adults) have to sign the documents?
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Sun Jun 07, 2009 7:18 pm    Post subject: Like 0 Dislike 0 Hi sennome! Welcome to forums! As both of you are the owners of the property, you cannot take the loan without your partner's consent. You'll have to inform your co-owner about the loan. If you want to take the loan in your name, then you don't need the co-owner's signatures. You can sign the loan documents alone. Feel free to ask if you have further queries. Sussane

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