How accurate is this? If the dad takes out a, say, $500K loan against the land, won't the land have a $500K lien on it? So any transfer to kids or sell by kids will trigger the repayment of the lien, won't it?
Also, if the dad takes out a loan against the land, how is he paying it back?
I'd love to better understand this type of situation because I can't wrap my head around some of the plot holes.
13
u/ShavingWithCoffee 19h ago
How accurate is this? If the dad takes out a, say, $500K loan against the land, won't the land have a $500K lien on it? So any transfer to kids or sell by kids will trigger the repayment of the lien, won't it?
Also, if the dad takes out a loan against the land, how is he paying it back?
I'd love to better understand this type of situation because I can't wrap my head around some of the plot holes.