Legal Question in Real Estate Law in Florida

Real estate

My sister and i have inherited a house which is free and clear i would like to get equity on the house what do i have to do


Asked on 6/21/07, 4:56 pm

2 Answers from Attorneys

Gordon Nicol Law Office of Gordon T. Nicol

Re: Real estate

Have your attorney open probate and appoint a personal representative. The personal representative can deed the property to the heir(s). At that point you can re-finance the property.

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Answered on 6/22/07, 11:11 am
Scott R. Jay Law Offices of Scott R. Jay

Re: Real estate

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I am not sure exactly what you mean. If you want to borrow money from the equity in the house, your sister will probably have to join in the loan application and mortgage as title is apparently in both names. Alternatively, you will need to sell the house and the proceeds can be shared.

Equity loans are generally readily available if your credit score is relatively good. Most savings and loans and banks offer them in South Florida.

Scott R. Jay, Esq.

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Answered on 6/21/07, 8:13 pm


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