Sondra, Home Buyer in San Joaquin County, CA

why would title and want my name,my husband is the one getting the loan

Asked by Sondra, San Joaquin County, CA Thu May 14, 2009

question about title co

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Paul Folmsbee, Agent, Cary, NC
Fri May 15, 2009
In most states, even though your husband is the party getting the loan, you would have a marital interest in the property. Your husband cannot borrow against, nor sell, the home without your permission.

Since each of you has a degree of authority regarding the property, the Title Company must include you in the paperwork. And here's something to check on, in advance:

Married couples often are told, "It takes one to buy and two to sell." That's true in a cash transaction. However, if a loan is involved, there generally will be one or more documents which the spouse must sign at Settlement. So plan ahead to attend the event, or arrange to sign your papers in advance.

An alternative is to grant Power of Attorney, so your husband can sign for you. The Settlement Agent can provide an acceptable document for this purpose.

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