if land is in a trust and to be distributed to adult children equally, would any of the children be able to borrow money individuallly using the land as collateral before the land is divided among the children?
State/Country relating to question: Indiana
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Before the land is divided among them, they have a vested trust interest but do not have legal, marketable title in their names until the trustee gives them a deed to their portion of the property. Until that point, they wouldn't be able to do anything with that property, especially take a loan encumbering their interest.
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Wills, Trusts, Probate & other Estate Matters
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