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QUESTION

If I own a house with my three sisters and one wants her 25%, Can I get a mortgage on the part that I own, so that I can buy her out?

Asked on May 07th, 2012 on Real Estate - New York
More details to this question:
The house is paid for
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1 ANSWER

Sharon M. Siegel
Estate Planning Attorney serving New York, NY
Partner at Siegel & Siegel, P.C.
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Legally, yes.  Practically, no.  Your other sister would have to be in on it too.  No bank lends on a share of a house.
Answered on May 12th, 2012 at 11:02 AM
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