Legal Question in Wills and Trusts in Florida

Yes they could take out a mortgage, but I can't come up with a valid reason why that would be for the benefit of the estate. Therefore it may not be advisable.

I do not know what you mean by defend the estate.

Besides, I would be hard pressed to find a lender willing to loan money to an estate, except maybe a bridge loan.

I agree in large part with Mr Kaplan's answer to your concern.

However, you should hire legal counsel and first seek the court's approval before seeking any such encumbrance against the estate, and setting down the reasons for the need to defend the same - this would put all of the beneficiaires and creditors on notice of said hearing and if they had any objections against the same they could voice their concerns at that time and not simply try to find fault and perhaps liability against you at a later date. Use the internet to find Florida statute 733.612(14) which would allow you to borrow as the Personal Representative. It would go a well to obtain such a hearing after notice to protect your duty to preserve the estate, and not expend monies for frivolous lawsuits, and an early termination of the estate itself.

The other concerns deal with FS 518.11 as a prudent investor when you sell property on credit (in order to obtain financing for your defense), but it is authorized under FS 733.612(5) of the statutes. The mortaging of the property itself is not considered a delay of the settlement of the estate, since the mortgage could be assigned to the beneficiaries fefore full payment on the note. Hope this helps.

Not a good idea.