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Investment property
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Investment property
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Posted by snoopdogMs on 1/24/12 9:09pm
Msg #409779

Investment property

Borrower is refinancing an investment property and has been told that the spouse must be on the title docs. He said that he has 10 other investment homes of which she has never signed anything. Should the spouse be signing anything? This is not their primary home.

Reply by GOLDGIRL/CA on 1/24/12 10:20pm
Msg #409797

Seems to me this is a state-specific thing. But speaking for CA, maybe she signed quit claim deeds or interspousal transfer grant deeds on the previous investment properties. Maybe he bought previous properties before he was married to her. Maybe the TC and lender wrongly didn't pay attention to his marital status. Is his purchase of these investment properties through a corporation/partnership or something like that in which she has no ownership or interest? Maybe alot of things. But if he's just a plain ole husband buying an investment property, she as a plain ole wife would have ownership due to community property and would thus be on title.... but there are just too many variables here ....

Reply by Luckydog on 1/25/12 11:19am
Msg #409831

In Florida no, unless she is on the title originally.

Reply by BossLadyMD on 1/25/12 3:45pm
Msg #409864

In Maryland, no, unless she is on the original title. n/m

Reply by snoopdogMs on 1/25/12 5:02pm
Msg #409872

I called title and as it turned out there was much

confusion about whether this was his primary address. After a little research, it turned out that the wife did not have to sign anything.


 
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