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Can i use property bequeathed as security on a loan / mortgage?

  • 20-05-2009 10:53am
    #1
    maxximus
    Registered Users, Registered Users 2 Posts: 115 ✭✭


    I am new here so not sure if i am even on the right page. I read somewhere lately that it is possible to do this . I.E. My parents have willed their principal private residence to me ( neither deceased ) .

    Is it possible for me to use the value of this property for the purpose of securing a mortgage ?

    Could I for instance take out a long term loan secured against the property and thus reduce the actual amount of the mortgage i apply for ?

    Any help greatly appreciated on this matter , T.I.A.


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    I would think it unlikely, unless they move now to gift you the property.

    Even if you were an only child, there is nothing to stop them changing their will in favour of someone else.


  • #3
    finisklin
    Registered Users, Registered Users 2 Posts: 1,524 ✭✭✭finisklin


    Think you may be better posting this in the legal discussion section, as it is related to the legal aspect of mortgage's and wills etc.


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