On Mortgage But Not Deed - What To Sign At Closing?
I have a married couple that want to sell me a house. They are in the middle of a divorace. He is to quick claim the property over to his wife. He will still be on the mortgage. When his ex-wife and I sign the P&S. Is a divoraced woman single? Also, would the ex-husband have to come to closing to sign anything?
Brenda
Dear Brenda,
Along with the husband signing the Quit Claim Deed take a Statement of Identity for the Title Company keep a copy.
No he does not have to sign anything. He is also still responsible as to the Mortgage.
No alas, the lady is marked for life. She will never be a single lady again, she is now an Unmarried Lady. So sad.
However it has its plus side. Whenever you want to know the status of the lady you are dating and she is being coy, why you just run a statement on her and see how she holds title to her properties.
Of course if she has no properties you cannot tell, but as a Real Estate Investor you should not be dating her. She brings nothing to the table. Wait, I just saw a picture of her, Oh My God, she does bring something to the table. Make an exception imediately!
Cheers Lucius
Though I don't know the specifics for your state, when you seek legal advice on this one, you might want to consider covering your bases by getting him to sign a Quit Claim Deed for you too--even though it sounds and may be redundant--at or before closing, lest you miss out on some 'common property' issue or another that could make it messy later on. If they're both on the same page re: selling, this shouldn't be a problem. If they're not, move very carefully.
Lufos,
Are you suggesting that Brenda start dating the lady of this house.
You have been in California way to long unless you know something I don't.
John $Cash$ Locke
Lucius, no doubt, believes that there is a rapidly shrinking window of opportunity in CA for legally sanctioned relationships of this sort, so time is of the essence.
I wondered what was up when I read the reply. But then I figured what the hell. I guess in real estate you have to do what ever gets the job done.
Brenda
Brenda,
I am certainly glad you have a sense of humor, I figured if you took the posts wrong it would be another one of those "flaming" threads.
John $Cash$ Locke