Can i sign a subordination agreement on behalf of my sd-ira? Or must the custodian do that? I have a closer that's requesting this at the 11th hour and needing the original signed subordination agreemtn to proceed. Thought we were closing tomorrow. Now it looks like Friday or even Monday if that's the case. Thanks!
Have your custodian do it -but you have to sign it first approving it -however most people don’t know any better and will start processing it with just your signature. By the time they figure it out you will have a signed copy by the custodian.
@Carl Fischer , you were correct. I have a signature form to fill out and then the custodian will sign it. This question popped after business hours yesterday and wanted to find an answer before the next morning...so thanks for that!
It's hard to tell sometimes if the title company is being petty and unnecessarily delaying closing by requesting an original notarized document from custodian or if it is a bona fide requirement to be legal. Since I executed the SD-IRA note myself, I figure I should be able to handle this myself too.
But in that regard, what about signing the original notes with the borrowers, is that something the custodian should also do?