Legal Question in Family Law in Louisiana
I own a house that my father died and left me, His exwife has a userferick on the hoem allowing her to live in the house. I own the home free and clear. My questions is can I get a home equity loan on the home. He had the house before he got married and they were divorced for three years when he died.
1 Answer from Attorneys
He obviously had a will and left her the usufruct.....use.....of the house and you got the naked ownership. That is, you own the title subject to her right to use.
You can do whatever you want with the house that a lender will agree to. Of course you cannot disturb her right to use it. Since the usufruct is undoubtably recorded in the public records of the succession, any lender would be lending the money with that knowledge. Of course they could try to take advantage of you by charging more interest etc if they think you need cash. Be careful you do not give up the house because you need cash.
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