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Can homeowners lose their house if they file for consumer proposal or bankruptcy
July 10, 2019
Should I invest in Real Estate?
May 16, 2019
What role does a Real Estate Agent play when the purchaser and the vendor reach an agreement
April 18, 2019
The many services of Realtors when purchasing a home
March 18, 2019
''AS IS - WHERE IS''
February 25, 2019
Advice from a Mortgage Specialist when you are preparing to buy a house
February 13, 2019
February 5, 2019
The most important things to consider when choosing insurance for your home
January 21, 2019
How does a Residential Real Estate Appraiser determine the market value of your house
November 15, 2018
Can you mortgage a house you will inherit in a WILL?
September 19, 2018
I'm busy working on my blog posts. Watch this space!
Susan is taking care of Mr. Jones, a widower. Mr. Jones has a WILL prepared wherein she inherits his house. She decides to go to the Bank and give this house as guarantee on a loan for her.
Can Susan mortgage the house she will inherit from Mr. Jones?
Susan is not the owner of this house yet and will not be as long as Mr. Jones is alive. She is not the owner of the house under the WILL. The WILL does not take legal effect until Mr. Jones dies.
In order for Susan to be able to mortgage the house Mr. Jones should of executed a Deed or a Transfer making her grantee of the property.
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