I have full POA of my Grandmothers estate. I was in the process of having her house deeded to me, but she died before it was registered. If i quick claim her home to me after her death can i get a equity loan, in my name, on this property before or during the probate of the estate. If not is there a way to get the loan without waiting on the probate process? Please Help.
I have no idea whether or not you can do what you ask, but I wish I knew how it applied to REOs and foreclosures. You've got me scratching my head on this one. Also, it's "Quit Claim," not "quick claim"(sic).
------------------ Ken&Wilma Coldwell Banker, ABRR LLC Branson, MO
Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
This isn't the forum for your question... but
A general POA can not normally be used to transfer property. A Specific Power of Attorney is required in most states.
In any case... your POA ended with the death of the person giving it. Any attempt to use it would probably be considered fraud and at the very least in very poor taste.
The property is now probably in Probate under the control of the State courts.
You may be named the Conservator or Executor but it would have to be with the approval and under the control of the courts. They would have to approve of most actions such as the sale or transfer of real estate.
[This message has been edited by Realty Check (edited 11-04-2004).]
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