Hello BP Nation!
I am working on a deal where the husband and wife owner/sellers are separated but not divorced, the wife says her husband is on board and will sign the papers but won't let me speak with him which has me a little concerned he may go sideways between now and closing. (I'm pretty sure he has a substance abuse issue)
If he were to quit claim the house to her so she had 100% ownership would that raise any red flags with the title or potentially interfere with my deal when we go to close?
The house is not a personal residence and is owned free and clear. FYI..
Thanks in advance!
It's perfectly fine. You might want to have the QCD prepared so you know it's in the proper form, make sure it's notarized and recorded of course.
Not as familiar with Florida but in many states, if they are still married, he would need to execute the Quit Claim to you, not his wife. This deed would then be held in escrow until closing and recorded along with the deed from her to make a complete transfer of title. Since they are both in title to the property then both must deed out to the new owner...not to each other.
@Mark Nickelson glad I could help! Good to know my 10 years in the title industry wasn't a total waste! :)
@Jim Viens Good catch, I was thinking divorced in my mind.
I'm not to sure about not speaking with the husband, dark storm ahead. This would be a legal issue, I would suggest the quit claim if executed, would be in front of an attorney of your choice, notarized, sealed, and copy of the file kept on his file depository, your local UPS Notary will not retain a copy of the wuit claim.
Good idea , We are going to have him come to the title company to sign the transaction. she is ok with the closing agent meeting him but for whatever reason doesn't want me to deal with him.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!