Property Loan Legalities Explained

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Summary

In Louisiana, securing a loan on a property not in your name is generally illegal without consent. The property title is essential for obtaining a loan. If someone falsely represents themselves as the property owner, it could be considered fraud. Seek legal counsel for detailed advice.

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Can a person get a loan on a property that’s not in there name
Hello **** ****,
Generally speaking, one cannot secure a loan against a property that is not in their name. However, the laws can vary based on location. Could you please provide me with your location so I can provide more accurate information?
Natchitches,Louisiana
Hello **** ****,
In Louisiana:
- You generally can't get a loan on a property not in your name.
- The property title proves legal ownership, essential for obtaining a loan.
- With owner's written consent, it might be possible, but it's complicated and uncommon.
For detailed information, consult a local real estate attorney.
Well here’s the problem.My mother took out a loan on her father property that the deed is still in his name
Hello **** ****,
In Louisiana, it's generally illegal to secure a loan on a property not in your name without consent. If your mother falsely represented herself as the property owner, this could be considered fraud. It's recommended to seek legal counsel in this matter.