I am writing up a purchase contract for a short sale. Ive been dealing with the husband, but the loan and title are in the wifes name, she is vested as married woman as her sole and seperate property.
Do I only put her name on the contract or his also? I thought I might have to only put her name on, and get him to quit claim to her and record that first. Is that neccessary?
thanks for any help, J
It depends on the state and their laws…I would put both names and get both to sign…
Keith
In whose name(s) is the loan and title? The wife’s or both the husband and the wife’s? If it is in both, you need both signatures. If it is in her name only, (which is what I understand from your question), you need to be dealing with her as well, and getting her signatures. It might also depend on what your state laws are. Are you in a community property state? Certain states’ laws (i.e. Louisiana and Wisconsin) might view this differently.
That’s why I said be on the safe side and get them both to sign and then there’ll never be a question…
In a LOT of states, it doesn’t matter who’s on the loan and it doesn’t matter who’s on the title…if it’s a married couple (and even in some states a long-term live-in arrangement), then the property is jointly owned.
Keith
Thanks for the imput. I will have both sign.