Real Estate Law

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If someone has a reverse mortgage in CA., can they rent a…

Customer Question
If someone has a...

If someone has a reverse mortgage in CA., can they rent a room out in their house?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

California

Lawyer's Assistant: Has any paperwork been filed?

Not yet

Submitted: 8 months ago.Category: Real Estate Law
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Answered in 1 minute by:
10/20/2017
Real Estate Lawyer: RobertJDFL, Lawyer replied 8 months ago
RobertJDFL
RobertJDFL, Lawyer
Category: Real Estate Law
Satisfied Customers: 15,075
Experience: Experienced in multiple areas of the law.
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Thank you for using Just Answer. I am a licensed attorney and look forward to helping you. I am reviewing your question and will reply back shortly.

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Real Estate Lawyer: RobertJDFL, Lawyer replied 8 months ago

Good evening,

So long as the terms of the reverse mortgage with the lender do not prohibit it, then this is permissible. It is also commonly a requirement that the homeowner with the reverse mortgage also live in the house at the time they are renting out the room.

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Real Estate Lawyer: RobertJDFL, Lawyer replied 8 months ago
If you have any additional questions about this matter, please don't hesitate to reply back to me and I'll be happy to help. Otherwise, please remember to leave a positive rating by clicking on the stars at the top of the page as that is the ONLY way experts like myself are credited by the site for our time and assistance. Thanks again!
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