Posted on: 18th Sep, 2008 08:47 am
i am the personal representative of my fathers estate. the house was left to my brother and myself. his spouse was left a settlement of $. she has signed settlement papers that limit her interest in the estate to the cash. i must pay her by a certain date. in order to do this, i need to take out a loan on the house, but the estate cannot be closed until i pay her.
can i as personal rep take out the home equity loan to pay her off without having the probate closed and assets disbursed?
can i as personal rep take out the home equity loan to pay her off without having the probate closed and assets disbursed?
Hi Newkelso!
Welcome to Forums!
Yes, as a personal representative of your father, you can take a home equity loan. However, in order to take a loan, you will have to seek the permission of the court. With the approval of the court, you can ask a lender to give you loan.
Welcome to Forums!
Yes, as a personal representative of your father, you can take a home equity loan. However, in order to take a loan, you will have to seek the permission of the court. With the approval of the court, you can ask a lender to give you loan.
Hi Newkelso!
Yes Sussane is right when she says that you can take a home equity loan. However, the permission of the court is the most important thing otherwise I don't think the lender will offer a loan.
Thanks,
Jerry
Yes Sussane is right when she says that you can take a home equity loan. However, the permission of the court is the most important thing otherwise I don't think the lender will offer a loan.
Thanks,
Jerry