Also, issues as to powers to execute mortgage documents regarding Full Authority, Limited Authority, no powers to sign, and what is required for a trustee of a trust to legally sign are significant factors. Mortgage financing is increasingly used by attorneys to as an attractive alternative to selling probate estate, conservatorship and trust owned real property. The following financing techniques are those which most frequently are used to provide cash liquidity or give heirs the ability to retain estate owned property for almost any reason. Frankly, the possibilities are almost limitless and the resulting variations permit financing to be tailored to the needs of all parties to an estate, especially the attorney. Fund proceeds go to estate for attorney, creditor or other distribution.
Borrower wishes to retain property for own or others' benefit.
Fund proceeds go to estate for attorney and creditor distribution. Borrower acts only in fiduciary capacity. Borrower wishes to retain property for benefit of others. Fund proceeds go to estate for attorney and creditor distribution. Borrower wishes to retain property for own or others' benefit.