Posted by vonneycali on 9/13/06 10:57pm
Msg #145916

Transfer of Ownership for Deed- HELP ME PLEASE!

Ok, this might be a dumb question, but I need help.. Here's the scenario: Couple A bought a house with Couple B. Couples A and B decided to get Couple Bs name off of the Deed and add on Couple C. What forms to use? I have 2 Grant Deeds with Change of Ownership forms. For first Grant Deed and COO forms, I have Couple B transferring ownership to Couple C. Does Couple A need to sign off on anything? Then, on Friday night, I have an appt for Couple C to sign Grant Deed #2 and COO to get their name added to the deed. Does Couple A need to sign this form to xfr Couple Bs portion to Couple C? Kinda confusing but if anyone can help me, I would appreciate it! I used the search engine but couldnt find much on xfring partial ownership for a deed. Thanks in advance!

Reply by Ndwa on 9/13/06 11:10pm
Msg #145918

Are you drawing up the deeds?
Are couple A/B/C seeking advice from you?

You should not do neither of the above unless you're licensed to practice laws. This is not legal advice, but for the sake of your question. The answer would be:

B--->A
A--->A & C

Reply by Bob_Chicago on 9/13/06 11:18pm
Msg #145920

Same advice and disclaimer as Andy, but I believe.....

A & B ----> A & C
would work just as well and they would
only need one deed and COO

Reply by PAW on 9/13/06 11:25pm
Msg #145924

Not practicing law here either, but whether or not someone has to sign the deed depends on how the property is held. If ownership is by Tenants in Common, then party A may not necessarily have to sign a transfer of ownership, since it is not their portion of the property that is being transferred. Only party B is transferring their share to party C. Party A would still maintain their ownership share of the property after the transfer from party B to party C.

Reply by MichiganAl on 9/14/06 1:15am
Msg #145945

Oh. THAT clears it up! LOL! n/m

Reply by Gary_CA on 9/14/06 12:01pm
Msg #146010

well it does a little...

When he said "if they're tenants in common" he meant, if they're joint tennants you can't do it that way, everyone must take title at the same time. That was one of the things we learned to pass the RE license test then promptly forgot.

The notary comes in at the last minute and doesn't want to mess up a deal, but it looks to me like the best answer is "Whoa Nelly, you need a lawyer."

Reply by TitleGalCA on 9/13/06 11:20pm
Msg #145922

vonneycali I NEVER do this...but seems like you have no help

from escrow. Set aside some time when I can reach you between 8:15 and 9:00

Please write a brief explanation and FAX it to me with ALL the docs you've been presented with to (805)278-7310 with a cover page that says: you REAL Name, phone, fax and in big letters: FOR SUSAN ONLY.

If i get them by 8:15am I can call around 9 or so after you fax - email me at [e-mail address]. and I'll either call or email you back. Include your phone number, one more time.

I'll getcha on the right track.

Reply by BrendaTx on 9/13/06 11:24pm
Msg #145923

Re: vonneycali I NEVER do this...but seems like you have no help

Yes, upon second read, it seems like she just needs help understanding the documents, not trying to create documents. Nice thing to do, Ms. TG.

Reply by TitleGalCA on 9/13/06 11:31pm
Msg #145926

Brenda nobody knows a title muck up - tossed to the notary

better than a "Title Muck-UP" who's done the tossing. She's the receipient of a muck up. and I can help her.

I don't always were the red hat with the pointy things you know.

Reply by TitleGalCA on 9/13/06 11:27pm
Msg #145925

Re: vonneycali I NEVER do this...but seems like you have no

And to any worry warts - there will be NO revising of deeds.

Not copacetic for a notary ever.

Want to know the outcome?....tune in to Channel NR at approximately Noon Pacific time and either Vonneycali or I (or both) will use this as a good example of the dilemnas notaries get stuck with and a good example of how the TC could have made it better.

(SS is out, as they're useless in this sort of thing)

Now - this is how I would form a network training program from the start.....what to do in difficult situations.

Reply by TitleGalCA on 9/13/06 11:36pm
Msg #145928

Re: vonneycali I NEVER do this...but seems like you have no

Brenda - this might be the part you would be interested in. How to unsort the muck to a nice clean real estate sale!

To bad you weren't availabe via conference call, but I'll do my best with out you. Vonney - I'll try to do texas charm but I'm still learnin it from Ms. B here.

Hope to have a BIG OLE FAX ON MY DESK TOMORROW!

Luv ya guys!

Reply by Ernest__CT on 9/14/06 12:47am
Msg #145933

Forget it! It's UPL!

Deciding what forms to use and what to put on the forms is decidedly Uanuthorized Practice of Law. If the title company (or whoever hired you) cannot tell you what to do, PASS! You'll end up with egg on your face and a lawsuit if anything goes awry.

Reply by dickb/wi on 9/14/06 12:44pm
Msg #146024

Re: Transfer of Ownership for Deed--CAVEAT........

here we would do: A&B----A&C.....quit claim or warrantY deed......how ever the big question is:are A&B signed on the mortgage.....if so most mortgages have a "Due on Sale" clause...that is the first thing they should check and if it does then try to get the lenders permission in writing to make the change and have B be sure that they get their name removed from the mortgage.....otherwise the lender could call the loan due..........

Reply by JanetK_CA on 9/14/06 11:35pm
Msg #146238

Why not just call the title co that created the forms? Either they made a mistake or they have specific reasons for setting things up the way they did. If it's the former, they will appreciate you bringing it to their attention. If it's the latter, then you are getting the straight scoop for this particular situation. As others have alluded to, there may be factors involved that aren't obvious from the docs you have.

Since TitleGal has been kind enough to offer assistance, you'll likely get some additional insight in this case, but my preference is always to go to the source, whenever possible. The only caveat here is if there's a ss involved that doesn't want you to contact the title co for any reason - in which case, you're really lucky to have TitleGal step up.