I’ve got a ready seller which is on title but the loan is in his wife’s name. Can I deal with him or do I need to deal w/his wife?
EJ,In order for you to gain clear title your title attorney will require that anyone whom “did,does,may or could” somehow claim interest in the property you want to buy be able to receive rightful compensation, ( and,or, release of fin, legal & tax responsabilities), @ close of escrow.
This process starts by ordering the chain of title report.This will uncover people whom have had ownership, (marriage constitutes ownership and in most cases, depending on the verbage of a divorce decree and in the instance of community property states, so may seperation) then move to creditors (liens). Simple answer: get all parties in on the deal from the get,so has been my experience.
That will work. Thanks!