My wife passed away with no will, I've been told the daughters have 18 percent ownership, They do not live here and I do, I need to get a loan for home improvements, the home is on my name only. Please help?
2006-11-02 01:58:14 · 5 answers · asked by letstow2002 1 in Business & Finance ➔ Renting & Real Estate
You will have to look at the title deed to see who's name(s) are on it. Everyone that is on there is an owner and must sign for the loan. Your local tax bill is not enough you must check the current and former deeds to be certain there are no liens or claims on the property.
You may want to have a lawyer do a title deed search for you. The cost is about $200 - $300 and is well worth it. The lawyer can also answer any questions about the kids claim to the home.
2006-11-02 02:09:34 · answer #1 · answered by my_iq_135 5 · 0⤊ 0⤋
I know in Florida you would have 100% ownership of the home because the Homestead is Jointly Owned with a Right of Survivorship unless the daughters are specifically on the title.
Even if your wife had a will she could not transfer her share to the daughters without your consent.
Speak to a lawyer.
2006-11-02 11:44:42 · answer #2 · answered by HMMMMMM 3 · 0⤊ 0⤋
I question the daughters' ownership, but regardless, you can always get a loan on your portion of the equity. Your bank or mortgage broker can answer those questions.
2006-11-02 10:23:15 · answer #3 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
It depends, did the probate court state that her daughters own 18 percent? Because normally the house passes to the reaining spouse.
2006-11-02 10:00:17 · answer #4 · answered by Flower Girl 6 · 0⤊ 0⤋
You should be able to get the loan in your name only, therefor your loan only, ask your attorney. Good Luck!
2006-11-02 10:01:09 · answer #5 · answered by Crystal A 3 · 0⤊ 0⤋