Cash Out Refinance My Share of Property?

[Levon K.]

Hello my fellow BP'ers!

    I have an interesting question that hopefully you guys (and girls) can help me out with. My question is: Is it possible to cash out refinance only my share in a property? Here's an example: A free and cleared duplex is owned by two siblings, Bob and Joe, and each own a certain portion of the property. Bob owns 60% and Joe owns 40% of the value of the duplex. Hypothetically, can Joe cash out refinance up to 80% of his 40%? Assuming the property is appraised at $450,000, can Joe refinance $144,000 (80%) of the $180,000 (40%)?

New BP Member,

Levon K.