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Will I be able to take out a home equity line of credit when I only control 1/3 of the interest in my house?


I currently live in a house in California that has my grandfather, my father, and me on the deed. We are each 1/3 owners of the property. It is completely paid off -- there is no mortgage. I was wondering if there would be any way I would be able to get a HELOC on the house WITHOUT the signatures or permission from my father or grandfather. They are both skeptical people and swear that banks are out to screw people over. They also do not know anything about real estate and they swear real estate is nothing but risky investments. I cannot get them to just deed the house over to me because they have no education on real estate and they swear they have to be involved for some reason. My father and grandfather don't make any of my decisions and haven't since I've been an adult for the last 10 years. This would help greatly if someone could offer some advice! This house has so much equity and it's time I start expanding my real estate portfolio! Thank you so much.

All vested owners have to sign an acknowledgement giving you permission to take out a lien on the property. They would not have to be on the hook as borrowers, but they do have to grant the permission for the lien.
I am a lender at a large bank and can understand their reluctance. In the wrong hands, a heloc can lose the home. In the right hands it can be a good investment tool or emergency source of cash. They must think yours are the wrong hands?

no

You will need the signatures of all three owners to take out a HELOC on a piece of real property.

Nope.

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