InnoVest's Foreclosure Forum
Ward takes the stairs.

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Annual Reunion

Speaking Schedule

Store

Foreclosure Fundamentals

Code References

Recent Legislation

50 State Foreclosure Basics

Foreclosure Glossary

Foreclosure Statistics

75+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Booklist

Contact / Map | Priceline Tips

About Us

Home

 

Innovest Resource Management BBB Business Review

New party to contract

428
August 31, 2011 06:43PM
In the middle of an escrow and the buyer wants to add thier spouse to title but the spouse will not be on the loan. An ammendment to escrow was created and the seller asked to sign it. The ammendment basically states the above, that the spouse is being added to title as a joint tenant and that the spouse is aware of and agrees to the terms of the purchase contract. It does not saying anything with regard to disclosures or agreements made after that point.

The purchase agreement and all disclosures have already been completed with original buyer. The lender has no objections to the spouse being added to title I am told.

My question is - when is the spouse added on the title? Does escrow continue with the original buyer until they close, have everything recorded as usual, then as a last step record the spouse on title as a joint tenant? Or does the spouse sign an agreement with the lender during escrow saying that they take title subject to the lenders interest?

I ask this because I need to know if I need to redo the disclosures and include the spouse then have them resigned. Also need to know if I need to include the buyer and spouse on all remaining paperwork throughout escrow.

Thanks
Subject Author Views Posted

New party to contract

428 3809 August 31, 2011 06:43PM



Sorry, only registered users may post in this forum.

Click here to login

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2024, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455