Equity Reverse Mortgage

[Account Closed]

Hi Guys, been in real estate, your family thinks you know everything and this question really caught me of guard, my grandpa ask me. So here is the deal My grandpa and my uncle are joint tenants in a Commercial building, my grandpa wants to take a Equity reverse mortgagee or pull some equity out of this building, questions, he is not getting into agreements with my uncle so. Does he need my uncles signature to take a loan, can he take only partial on his part of the equity and what kind of rates are we looking at, he eventually want to pay it off. He just want some money for now for personal expenses. Thank you all