life use deed

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Post Posted: Wed Feb 03, 2010 2:34 pm    Post subject: life use deed

wouldI be able to get a credit line on property with a life use deed?
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Joined: 03 Oct 2005

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Location: New Jersey
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Post Posted: Thu Feb 04, 2010 2:02 am    Post subject:

I did not understand what you wanted to mean by "life use deed". Are you speaking about the life estate clause mentioned in the property deed? Though you have life estate rights on the property, you will not be considered as the owner of the property. You will only have the rights to stay in the property until death. Thus, I don't think you would be able to get a loan on that property.
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