Can a Will preclude me from drawing equity from our house?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can a Will preclude me from drawing equity from our house?
My husband passed and put a clause in the Will that I cannot restructure or use the property as security against future debt. The property was acquired during the marriage. I want to
restructure the payoff 25k and pull my 50% equity to help pay for the medical bills from his cancer treatment along with payoff the mortgage.
Asked on June 27, 2016 under Estate Planning, Louisiana
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Generally, a will cannot put unreasonable restrictions on a person's use of the home after inheritance. So, assuming that this was not community property, then he can't put a restriction that prevents your use and enjoyment of the property. There may be a clause such that he has done it properly, but the wording you describe does not indicate that.
Second.... the will may not even control. When you go visit with the attorney, take a copy of the deed of trust or any title documents to the property. Most deeds that are in the names of two people will pass title automatically, without any conditions, upon the death of one of the owners. This is called the "right of survivorship." If your deed included language like this, it will control over any provision in the will.... making any of his limitations in the will moot.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.