If a house is owned under Tenants in Common with 2 separate owners, are there 2 separate checks or one big check that must be divided?

Coachali31
Home Seller
Queens, NY

Answers (3)
Terry Korahais
Broker
Bayside, Queens, NY

Hi Coachali31, final proceeds will be made out per your request.-divided between the 2 owners. You will be asked by your attorney -how you want the checks to be made out (usually a few days before the closing) whether there is a mortgage involved or not.. Terry K 718-614-3167 cell

Wed Sep 30 2009, 06:47
Gail Gladstone,...
Agent
11743

It's really quite simple; ask your attorney to have the buyer issue separate checks in the names of each owner.

Web Reference: http://GailGladstone.com
Mon Sep 7 2009, 06:37
Robin Silverberg
Mortgage Broker
or Lender

Stamford, CT
FIRST ANSWER

Are you selling to someone who is obtaining a mortgage? At closing, generally the seller's attorney will give a list of checks that are required to the buyer's attorney, who will in turn forward that list to the bank attorney. I am quite sure that you can request any breakdown that you want for the funds that are coming. I would assume that you are being represented by an attorney. That person should be able to give you the correct advice on this question.

Sun Sep 6 2009, 14:34

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