Legal Question in Real Estate Law in New York
real estate 2nd morgage
my dad passed away a few years ago we never took his name off the deed his heirs are me who lives in the house & my brother who lives in another house that my dad owned a third of,the question is can my brother take a morgage or line of credit with out my approval on the house that I live in (there is no morgage on the house)
2 Answers from Attorneys
Re: real estate 2nd morgage
From your question, it appears that you never went to surrogate court to determine how the properties should be divided.
No mortgage company will give a mortgage under such circumstances.
The correct approach, is to petition Surrogates Court for a determination as to whom is entitled to the properties and other assets.
If you would like to retain the services of this office, please feel free to contact me.
Re: real estate 2nd morgage
If title remains solely in your father's name and he is deceased, the house cannot be sold or mortgaged without letters testamentary (if there was a valid will) or letters of administration (no will). Since you are living in the house, you have a greater interest to protect than your brother does. Therefore, I suggest you consult with an attorney to straighten things out as soon as possible.
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