[WSBAPT] Tenants in common

[Heather deVrieze]

While a Personal Representative legally can encumber property, it is highly unlikely that any lender will be willing to lend to an estate.

Heather


Heather S. de Vrieze
Attorney-at-Law
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of H Henson
Sent: Saturday, August 19, 2017 11:41 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Tenants in common



Similar question,  can a PR encumber property (in the course of saving it from a (wrongful) foreclosure) ?
(new encumbrance to replace existing encumbrance).

Any Title attorneys have thoughts on this set of facts? existing encumbrance is approx 30% LTV - bank is being arbitrary. PR looking to "refi" existing encumbrance to a new encumbrance (short term) until property is ready for listing.

thanks for direction to any resources that may help support alternatives for PR.






Holly Henson, CPA
Attorney
PO Box 1555
Bellevue, WA 98009
phone (206) 203-3259








On Fri, Aug 18, 2017 at 5:32 PM, Eden Rubenstein Toner <attorneytoner at earthlink.net<mailto:attorneytoner at earthlink.net>> wrote:
When real property is distributed to estate beneficiaries as tenants in common, can any tenant sell his/her interest or encumber it?  Can anyone recommend good reference material?  Many thanks,
Eden

Eden Rubenstein Toner
Attorney at Law
1600-B SW Dash Point Road, #163
Federal Way, WA 98023
phone 206-953-4485<tel:(206)%20953-4485>
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