CONTENT

  DEPARTMENTS



  DETAILS
Legend for Icons
 Article    Q&A

 Podcast  Video

 Blog  Discussions

PDF    Powerpoint
BankingQuestions.com Web

  Home >> Special Situations >> Deceased Individuals  
Inheritance Must go into HELOC?

My fiancee is getting an inheritance from her late father's estate. The lawyer said she must transfer the funds to a home equity line of credit. Neither one of us has a home. The funds are being transferred from a security company; is this correct?

Untitled

The instruction from the attorney doesn't make sense in the context of what you've written. Your fiancee should ask the attorney for clarification concerning the estate. For example, she should ask if there was a home equity line open and in use when her father died, and if some of the funds she has received will need to be used to pay off the loan before the home can be sold or transferred.

Published on BankingQuestions.com 11/18/10