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Can property in trust, made irrevocable after death of trustor, be refinanced?

ADDITIONAL INFORMATION:

Mom put her home in living trust that became irrevocable after she died. Title changed to reflect successor trustees, but still in name of Trust. Can we refinance?

ANSWER BY MARGARET CROSS-BELIVEAU:

Yes, it is possible to refinance within the trust.  You will have to search to find a bank that is willing to do it.  Usually a small bank or a credit union is the best option.  A mortgage broker is a good resource.

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Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice.

Beliveau Law Group: Massachusetts | Florida | New Hampshire

The tax attorneys at the Beliveau Law Group provide legal services for taxation. The law firm has offices and attorneys in Naples, Florida; Waltham, Massachusetts; and Salem, New Hampshire.

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