life estates

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Originating: Life Estates: The Changes and the Challenges

Mar 28, 2011By

Vesting, vesting! 1, 2, 3! When it comes to vesting, there are so many options. Trusts, joint tenancy, community property, tenants in common, life estates. What to choose? Only your borrower and their attorney can make that decision. If they do have their property vested in a life estate, a reverse mortgage is not always a lost cause. There could, however, be potential issues that may ultimately delay or prevent closing. A life estate is a form of ownership of real property. It can be created by any of the methods of voluntary transfer allowed by law, i.e., by deed,

3d rendering of a row of luxury townhouses along a street

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