General Partnership
we have a partnership and own some property. the title company insist that i file GP-1 form before they can issue title insurance. i called the secretary of state office they said GP-1 is permitted but not mandatory.
i offered an expensive alternative i.e. a notorized letter of authorization to one of us represent the partnership thus expidite the process of selling the property. they insist on the GP-1 i'm afraid i'll loose the buyer
is there a better solution to this problem or i need to file the GP-1 form. thanx
I am not sure of the form that they insist upon. Try switching title companies. Maybe the mere suggestion to them that you will might be enough. I would call some other title companies in the area to see if they require the form before you fire the shot (just in case.)