Posted on: 14th Apr, 2009 04:46 pm
my X wife and i own 120 acres that are paid for. She does not need any money now. I do. Can I use my 1/2 interest in the piece of property as collateral for a loan or a line of credit. the value of the property is somewhere between $800'000 and$1,200,000. These figures come from an appraisal that we had done
hello Jim,
I don't think you can without her agreeing to it. Is there any way that you could have the land sub-divided into two equal halves?
I don't think you can without her agreeing to it. Is there any way that you could have the land sub-divided into two equal halves?
Hi jim!
Welcome to forums!
Until you divide the land into two halves, you'll not be able to take a mortgage on your portion of the land. If you do not wish to subdivide the land, then you'll have to take mortgage on the property as a whole.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Until you divide the land into two halves, you'll not be able to take a mortgage on your portion of the land. If you do not wish to subdivide the land, then you'll have to take mortgage on the property as a whole.
Feel free to ask if you have further queries.
Sussane
