Getting equity out of a property where you share a common interest
Banks normally won't touch a deal like this. Private investors see the common sense where there is sufficient equity to allow one of the title holders to borrow equity from their portion of the property value.
I was approached in a divorce case by the lawyer of a man who needed to access a portion of his half of the matrimonial property. The properties were being tied up while the divorce abttle raged on. There was proven sufficient equity on both sides and it was not a question as to the soon to be ex-husband owning at least half of it.
The discussions between the man's divorce lawyer and the private investor's lawyer were required to set up a framework for the type of loan and land titles registration to make this happen. This first deal was delayed at first, because Alberta Land Titles was not satisfied with the legal verbage used on the registration request. It was quickly resolved after a discussion and the loan went forward.
I had never seen a deal like this cross my desk in 35 years in the industry, but right after that first deal was closed I received a call from a man looking to get equity out of a property, that he owned jointly with a foreign investor.
The circumstances and the needs were different, but again we proved his co-title to the property and determined his share of the ownership. Recently we closed the second deal using the same private investor (because the investor became confident with this type of investment).
We used the same lawyer of the second deal too, because the legal verbage was precise and land titles registered without further incident.
If this sounds like something you need, please let me know and we will see if you qualify.