Loan to fix on probate home

This is a discussion on Loan to fix on probate home within the Other Real Estate Law Matters forum, part of the REAL ESTATE & PROPERTY LAW category; My question is this our home is still in probate and My lawyer had set up a loan thur the ...

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Old Apr 19th, 2009, 01:42 AM   #1
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Question Loan to fix on probate home

My question is this our home is still in probate and My lawyer had set up a loan thur the courts. To borrow money on the home to fix the home up and put it on the market.The first loan was a hard money loan and was set up without me examining the docs. So i decided to look for my own loan and see what i could find. the lady i was working with had some other issues and just brushed me off. So I decided to give the first lender a call . and he said he would work his hardest to get me my loan. He spoke to my lawyer.(I am 1/3 beneficary of home but im the only one who has kept up the home maintence, grass cut pool serviced taxes paid worked with judements on the home, insurance, other things i might add. Oh and my nephew is the other 1/2 owner of home, i am his guardian and caretaker and friend.) My brother has told me do as i please
this is is our home. My lawyer said the courts blessed this request but only if I put the money in a attorney trust account so that he issues the check. The loan is in my name. What do I do to protect myself? The home needs to be fixed up And the loan is for USD$ 90,000 and 40,000 is suppoed to go into a attorney trust account. the rest is to furnish the loan until the home is either sold or loan. Im supposed to open two estate accounts and pay from each account the loan amount ? Does this seem right also?Does the title of home go into my nephews and my name? What is vesting on the title of home? Please someone help Im making a descision in my life that will change our life 4/ever.
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