Posted on: 21st Sep, 2008 07:39 am
I signed an interspousal transfer prior to closing a CA property. My husband has now signed a grant deed but with a granting clause R & T 11925 to put me back on the title before transferring it to a community property trust. What do I actually own? Married 27 years. I feel the clause excludes from owning an actual interest in the property and I only hold title. I need help understanding what took place.
Hi Bonnie22!
Welcome to the forums!
Once you are back on the title of the community property trust that means you have all the right on the property. California being a community property state, if you have paid any portion of the mortgage for the house, you will have certain rights on the property. In case of divorce or partition, the property will be equally divided between both the spouses.
Feel free to ask if you have further queries.
Sussane
Welcome to the forums!
Once you are back on the title of the community property trust that means you have all the right on the property. California being a community property state, if you have paid any portion of the mortgage for the house, you will have certain rights on the property. In case of divorce or partition, the property will be equally divided between both the spouses.
Feel free to ask if you have further queries.
Sussane
I am not on the loan. The loan was taken out in his name only. What effect does this now have on my real interest in the property and/or the title.
Hi Bonnie!
When you are not on the loan, then I don't think it will affect you in anyway. If the loan goes for a foreclosure, then there are chances that the lenders may ask you to pay the loan but that varies from one lender to the other.
When you are not on the loan, then I don't think it will affect you in anyway. If the loan goes for a foreclosure, then there are chances that the lenders may ask you to pay the loan but that varies from one lender to the other.
I am in receipt of an Interspousal Transfer Deed (blank except of the Escrow No, my name and my ex spouse) and a Statement of Information from the escrow. I'm not comfortable in signing a blank form and the explanation on the Statemnt of Information was "Regarding the statement of information, it standard procedure that escrow have that for any transaction, to verify who every party is for certain."
Your thoughts?
Your thoughts?
my first thought, liz, is that you ought to discuss this with an attorney who knows a little something about such a document. if you don't understand what you're signing, you ought not sign it. if it makes sense after you've received counsel, then go ahead and sign it. honestly, it seems simple to me.
