Legal Question in Real Estate Law in North Carolina

Reverse Annuity Mortgage (RAM).

If a properity is equally owned by two parties can one party acquire a Reverse Annuity Mortgage (RAM) with out the knowledge or signiture of the other party?.


Asked on 9/18/06, 2:45 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Re: Reverse Annuity Mortgage (RAM).

The answer to yrou question depends upon "how" the two parties own the property. But, in a practical sense, few if any lenders will enter into such an agreement, If they know about another owner, few, if any, will make any type of unilateral mortgage, without the knowledge of the other owner, because the lender will not be able to get title insurance.

Good Luck

Good Luck

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Answered on 9/20/06, 2:36 pm


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