Posted by Stamper_WI on 9/29/06 6:06pm
Msg #149366

Florida question

Is Florida a dowager state? I am doing a purchase loan for a property there. The borrower is married but the spouse is not on any doc's. I think this may be a second home situation.

Reply by PL on 9/29/06 6:28pm
Msg #149370

Actually it's the Sunshine State :)

A poor attempt at levity on a late Friday afternoon.

Reply by MistarellaFL on 9/30/06 7:46am
Msg #149453

We call it the "Sub-prime State", lol! n/m

Reply by Sylvia_FL on 9/29/06 6:58pm
Msg #149371

It's a homestead state. You need to check with the title company to see if they need the spouse to sign any of the docs.

Reply by Stamper_WI on 9/29/06 8:24pm
Msg #149375

I couldn't get anyone at the Title co or the SS. Its was a second home new construction. There was a release of construction lein on it. It is vested as "husband name, a married man". So I went with the Doc's as printed.

Reply by PAW on 9/29/06 10:58pm
Msg #149419

Florida is NOT a community property or dower state. FL is a Homestead state. As such, only the primary residence occupied by both husband and wife are protected under the Homestead Act and constitution. Second homes, vacation homes and investment properties can be held as sole ownership properties, in which case, the spouse would not be required to sign the "legals" (mortgage, riders and TIL, and RTC if included). Unless you know how title is being held, you cannot assume that a spouse would or would not be required to sign. Your only recourse is to contact the title company (or SS if necessary).

Reply by Stamper_WI on 9/30/06 2:55pm
Msg #149548

All in hubbies name

There was something to fill out about how they wanted it vested and they discussed it. She basically said "I told you I don't want my name on anything"...an "oh yeah" moment. So it is in his name only as is the loan. He's a Dr.

Reply by Linda_H/FL on 9/29/06 10:24pm
Msg #149411

Does Homestead attach if it's not their primary residence? - this is supposedly a second home