First you have to take the necessary action to establish your ownership of the property inherited from your father. Your father's estate should transfer title to the property to you. Once title is transferred you should approach a bank to find out the type of loan you can qualify for using the land as collateral. You probably need the assistance of an attorney to complete the transfer of the land from your father's estate to you. You should also have an attorney assist you in understanding your obligations under the loan secured by the land and to make sure the documents are appropriate for your transaction.
Answered on Mar 23rd, 2016 at 9:20 PM