There are four siblings' names on the deed to a house in Pennsylvania. Can we do an equity loan to buy out one of the siblings? Can only one or two of the siblings apply for the loan or must it be all four of them?
You need to speak with a lender, probably in that area, as he will be familiar with the land. If you are not local, you bank may still entertain the request, but a local lender is often preferred. One or more of the siblings can apply for a loan. Assuming they qualify, the other siblings not being bought out would then be asked to sign the security agreement. They may be asked to sign a hypothecation agreement as well. These two documents basically say that they agree to put up their share of the land, but will not be obligated on the debt. If the loan defaults, they can lose their interest in the land, but they don't have to pay the loan. This assumes you will place the inherited land up as the collateral.
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You need to speak with a lender, probably in that area, as he will be familiar with the land. If you are not local, you bank may still entertain the request, but a local lender is often preferred. One or more of the siblings can apply for a loan. Assuming they qualify, the other siblings not being bought out would then be asked to sign the security agreement. They may be asked to sign a hypothecation agreement as well. These two documents basically say that they agree to put up their share of the land, but will not be obligated on the debt. If the loan defaults, they can lose their interest in the land, but they don't have to pay the loan. This assumes you will place the inherited land up as the 