I have a mother and daughter on the same deed. Done about 2007 when the father passed away. Her farm ground was put in a living trust. The mother lives in the home by herself. The daughter lives with her husband in a different house. The daughter is coming in with her husband next week to talk about the HECM so they understand it for the mother. I don’t want them to mess anything up. Is it ok to take the daughter’s name off the deed now?
Anyone coming off title whether at closing or before, must be counseled. So either way is fine. Is the property the farm ground? We cannot loan on farms. We do not lend on farm properties, however, we can review on a case by case basis. It cannot be a working farm.