Does it matter that under the law 100 acres is a “single person” homestead and 200 for family?
(The wife will have to sign the deed because of community property in our state.) A. The key to the number of acres is whether there is a family or an unmarried (single) person – not whether it is separate vs. community. Thus, the homestead in this case is 200 acres. As you noted, even if the property is owned as separate property, the non-owner spouse must sign a consent to the lien. This is a very old concept in our law and is intended to protect the family from the no-good husband who might just try to gamble it away! Q. Our bank is currently not funding home equity loans. We are considering using a company out of North Carolina to help originate home equity loans. We would be serving as a broker. Instead of charging the customer for fees such as attorney fees, appraisal, etc., they just price these fees into the discount points and the lender pays for the fees. The customer could pay up to 7%-8% in discount points, but no closing costs. When I asked the rep. if these were not reall
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- Does it matter that under the law 100 acres is a "single person" homestead and 200 for family?
