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We own a home in Az. given to us through an irrovocable trust. The grantor is now deceased, however his companion remains in the home with life estate benefits. Can we as the primary inheritors seek amortgage on the property as the original note has been satisfied?
Can a life estate be mortgaged by the trustee to whom the property was given? It is not the person to whom the life estate was granted, but the owner trustee of the home.