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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 6516
Experience:  Wills, Trusts, Probate & other Estate Matters
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If a husband and wife own a house under joint tenancy, can

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If a husband and wife own a house under joint tenancy, can one of them borrow against the house without approval from the other?

TMcJD :

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TMcJD :

No, a bank would never loan money to only one joint tenant without getting the other on the loan as well because if the one that takes the loan dies first, the property will only be owned by the survivor (who didn't sign the loan) and the lender would no longer have any interest to go after. They would lose their ability to collect and any security interest in the home.

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