If a brother and a sister own a single property, can one of them take out a home equity?

UPDATED: Oct 1, 2022

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If a brother and a sister own a single property, can one of them take out a home equity?

I was just curious on if I’m going to be homeless or not. I’ve been told that a brother and a sister can’t be on a home equity because they aren’t married.

Asked on July 11, 2018 under Real Estate Law, Missouri


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

A bank can give unmarried co-owners of property a home equity loan (or a mortgage); there is no law against it. But note that there is no law requiring a bank or lender to make this loan--it is voluntary for banks to make loans, and they are free to determine their own criteria or qualifications for a loan. If a bank chose to not make a loan to brother and sister homeowners, that would be legal.

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