Q: Must spouse sign title docs during refi of rental property if current title in one name only?
Seeing conflicting information and don't see a definitive. From initial refi attempts, this seems to be lender specific since some want this while others don't. Prefer to avoid this as would make planned future house sale essentially impossible with title in both names as during that actual time we will be continents apart with no essentially no ability for spouse to print/prep documents, much less schedule for signing at US Embassy, nevermind IT access/issues and slow pace of mailing anything.
Follow-up: Thank you Julie. Yes, that's exactly what I was asking...if the lender will require both spouses to sign for a refinance when the rental property is in one party's name as would be the new mortgage? My research into this seemed to point in lender preference direction, but was looking for definitive answer, which you provided.
A: Are you asking if the lender will require both spouses to sign for a refinance when the rental property is in one party's name? It depends on whether the new mortgage will be in both parties' names or not. Even if the property and mortgage is in one party's name, the lender may decide to require both spouses to sign. It depends on the lender. Some lenders won't lend without fulfilling this requirement. Some lenders will lend even if the spouse doesn't sign.
1 user found this answer helpful
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.