Legal Question in Disability Law in Indiana
Yes, i need advice. i have a deed to 20acre & house. My 93 yr old father has a life estate. The house is badly need of repairs. The bank will not loan give a me home equity line without his signature. He will not do so. Is there any way around this. What if he goes into a nursing hm ? Am i stuck with a declining property ? Am I unable to get a loan or even sell it while he is alive ?
Asked on 2/17/11, 12:52 pm
1 Answer from Attorneys
If your father is incompetent you could obtain a guardianship. Also, as a life tenant he has a legal obligation to maintain the property. If he is competent, perhaps a letter from a lawyer letting him know that he has obligations might convince him to sign. I am presuming that his signature is for consent and not as a co signer.
Answered on 2/25/11, 5:00 am
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