[WSBAPT] Tenants in common

[Mike Winslow]

You may need to go to the equity lender market (often private money or non-conventional lenders). With a 30% LTV, I would expect this to be pretty easy to refi.
Call me if you need a referral to equity lenders.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it’s confidential. If you are not the intended recipient, it’s too late to stop reading this message, but you may not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Heather deVrieze
Sent: Monday, August 21, 2017 11:22 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Tenants in common
 
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
cid:image001.jpg at 01D013C2.30F35160
3909 California Avenue SW
Seattle, WA 98116-3705                          
(206)938-5500 
 <mailto:heatherd at westseattlelaw.com> heatherd at westseattlelaw.com 
 <http://www.westseattlelaw.com/> www.westseattlelaw.com 
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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> 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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