Posted by CJ on 10/14/12 11:07am
Msg #438513

What do you say about Interspousals?

Usually I show the interspousals to the people, I point out the verbage where they give the property to the spouse, they read it and then they sign it. They are usually on a purchase where only one spouse is buying for whatever reason. The other spouse is fully informed and has no problem signing. Once in a while they read it, understand it, and don't sign it. Fine. Not my problem.

I signed a purchaser, and they did not tell him his wife had to be there for the interspousal. She was at work. I left that doc and told them to call me when she was available. They called the next day and said she was uncomfortable and hestitant to sign, and she had some questions for me. It soundled like UPL coming my way, so I told them it was illegal for me to give any advice or opinions about the interspousal, since I am not an attorney, and they would have to call title on Monday. I did not even listen to the quesion.

Just curious: do you have a way to explain the interspousal without giving advice or opinions? We are allowed to point of facts. (She is giving her interest in the property to her husband).

What do you think?

Reply by Lee/AR on 10/14/12 11:16am
Msg #438514

Think you did right. She has the Deed in hand, assume she can read, it's pretty clear what the result of signing it means---yet she has questions. Yep, they need to call Title because that's a 'why' answer.
My thinking is we can easily determine/point to the Who & What....it's the Why that's UPL.

Reply by Sheila Meinecke on 10/14/12 1:34pm
Msg #438530

I would have at least listened to the question(s), you really have no idea what she would say, it could have been something simple you could answer, or not, you could then proceed to
have her contact title or her financial adivor/attorney etc.
Not listening to her concerns, may have been offputting, depending I suppose on what words you actually used.

Reply by GOLDGIRL/CA on 10/14/12 2:13pm
Msg #438534

Interspousals are basically one sentence long, black and white. If someone needs more explanation beyond what is written there, it likely means something else is going on that's out of our territory. However, you might have at least listened to the question in case it was something really simple that we can answer.

In any case, nothing wrong with referring them to the TC that prepared the doc, who may refer them to an attorney - or at least to their LO, because it is likely a lender requirement.

As far as explaining the interspousal, I have learned through experience that this is a very explosive doc and that even when she is onboard (I say, "she," cos it's usually the wife), I avoid using loaded phrases like you have no more ownership in the property, or you're giving up ownership, or your old man owns all the property himself now. Usually, I point to the one sentence on the doc that explains it, enourage her to read it and hope she signs with no muss or fuss. If pressed, I use words like "transfer of ownership." Beyond that, they need to call the LO.

Reply by Shoshana/AZ on 10/14/12 8:22pm
Msg #438564

Some people might not understand "transfer of ownership"

If it's a lender issue, the lender has already talked about it (income, credit, etc). If it's a domestic issue, hubby should have talked about it.

Reply by GOLDGIRL/CA on 10/14/12 9:45pm
Msg #438575

Well, if they don't understand it ....

... they need to take it up with the tax assessor and the county recorder. In CA, any Grant Deed must also be accompanied by a signed Preliminary Change of Ownership Report, which lists the names of the tranferee and transferor (or grantee/grantor). The first section is entitled "Transfer Information," and the first line of that section reads "transfer soley between spouses (addition or removal or a spouse)." Their words, not mine.