Can you get a mortgage for a property that is required to go through probate?

How can a bank provide a mortgage for a house that is not deeded to the person
and must be included in the probate application? Additionally, a family member
wants to buy the other sibling’s share of the property. Some are not willing to
sell, so they would never have full ownership of the deed.

Asked on September 14, 2017 under Estate Planning, North Carolina


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Are you asking about the mortgage becuase it is happening in the estate or for reference becuase you wish to buy out the other beneficiaries?  So the simple answer is you can not get a mortgage for a house you do not own.  But in the case of an estate, you can begin the process and do a refinance and take the property by executor's deed at the same time.  The lender will require their own specific documents from the estate to start the application so that you would have to ask of them.  However, if some of the parties are not willing to sell you are stuck.  You may then have to bring an Action for Partition.  Seek legal help.  Good luck.

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