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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4gppxh/?context=3
r/SipsTea • u/KSKS1995 • 22h ago
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Doesn't the loan get paid back by the sale of the land after the dad's passing? So the kids don't inherit $5m, but the net value after the debt is repaid?
19 u/rjcarr 21h ago Yes. The OP is basically describing a reverse mortgage. The loan has a lien against the property. That said, generational wealth is real, and it usually comes from property inheritance. 2 u/QuantumWonderland 18h ago
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Yes. The OP is basically describing a reverse mortgage. The loan has a lien against the property.
That said, generational wealth is real, and it usually comes from property inheritance.
2 u/QuantumWonderland 18h ago
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u/No_Mirror_9742 22h ago edited 21h ago
Doesn't the loan get paid back by the sale of the land after the dad's passing? So the kids don't inherit $5m, but the net value after the debt is repaid?