so my signing last night was a refinance with the Trust and successor trustees Jane Doe and Jill Doe GRANTING to Jane Doe, unmarried woman, and Jill Doe and John Doe wife and husband all as tenants in common.
The Occupancy Affidavit has a section that asks "date property acquired". Would that be the date the last trustee died? In theory, the property in trust passes through to the successor trustees upon the last survivor's death. Right?
They weren't sure what to put. They thought they should put the date this loan closes, but, that does not seem right to me. We left it blank and I advised them to reach out to their loan rep or escrow this morning.
Is it really a refi.....or should it have been structured as a purchase? Way above my pay grade....
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