What is the name of your state? PA
However question is dealing with Grandparents in AZ
Last weekend my sister and my grandmother put down a $10,000 deposit on a new construction home without the consent or knowledge of my grandfather. My grandmother was able to secure a $40,000+ home equity loan to secure her deposit, among paying off her debt -through the builder's lender. However, my grandfather has no knowledge of this HELOC!
I thought both owners would need to consent to a loan against a property. Correct?
Second question: my grandmother intends to sell her current home, again without the consent or knowledge of my dying grandfather who wishes not to move and has said repeatedly he does not want to sell his home. She can not legally list the home for sale without his consent right? As she doesn't intend to tell him unless he is still alive when they need to move.
Lastly, my grandmother believes she will make a 200K profit from the sale of her home and intends on placing this money down on the new home in which she will share with my sister and her family. My family does not feel that my sister should benefit from my grandparents equity as she is bringing no money to the table, and when my grandparents do die she is also an owner of the home. (my sister is obviously using them to get a leg up on her 1st home...luxury home at that.) My gransparent's 6 children are livid at this decision and wants to know if legally they can stop this transaction? If they can not stop this transaction, how can the deed be written that the 200K+ would be left to her 6 children as intended and not to my sister whom would also own the home.
Your advice is greatly appreaciated. Thank You.
However question is dealing with Grandparents in AZ
Last weekend my sister and my grandmother put down a $10,000 deposit on a new construction home without the consent or knowledge of my grandfather. My grandmother was able to secure a $40,000+ home equity loan to secure her deposit, among paying off her debt -through the builder's lender. However, my grandfather has no knowledge of this HELOC!
I thought both owners would need to consent to a loan against a property. Correct? Second question: my grandmother intends to sell her current home, again without the consent or knowledge of my dying grandfather
who wishes not to move and has said repeatedly he does not want to sell his home. She can not legally list the home for sale without his consent right? As she doesn't intend to tell him unless he is still alive when they need to move. Lastly, my grandmother believes she will make a 200K profit from the sale of her home and intends on placing this money down on the new home in which she will share with my sister and her family. My family does not feel that my sister should benefit from my grandparents equity as she is bringing no money to the table, and when my grandparents do die she is also an owner of the home. (my sister is obviously using them to get a leg up on her 1st home...luxury home at that.) My gransparent's 6 children are livid at this decision and wants to know if legally they can stop this transaction? If they can not stop this transaction, how can the deed be written that the 200K+ would be left to her 6 children as intended and not to my sister whom would also own the home.
Your advice is greatly appreaciated. Thank You.