Legal Question in Real Estate Law in California
What are the consequences of signing Interspousal Grant Deed?
I (husband) signed an interspousal grant deed to my wife. When we were in the title company to sign papers, I was asked to signed that interspousal grant deed form. I asked the escrow officer, and she replied no one told you about it or loan agent didn't tell you anything.
When I called our loan agent, he told me that its normal because my name is not on the loan, and if I don't signed the said interspousal grant deed, we will not get the loan,or might get delayed.And when my wife talked to someone from the bank (lender), she asked why my husband is not on the title, and and bank employee responded I was not on the loan and to put my name just go to county recorder office.
My wife and I are not comfortable about this situation. In our previous propeties, we both have our name in title and loan, but we also done this similar situation without my name on loan and no one asked me to sign Interspousal grant deed. However, this last one is so much different, I asked to sign a paper giving up all my rights to the said property.
If we go to county recorder's office and add my name to the title, will this supersede the Interspousal grant deed that i sighned. Any advice of how of how to releive our uneasyness?
2 Answers from Attorneys
Re: What are the consequences of signing Interspousal Grant Deed?
Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters, notices, and lawsuits. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.
Re: What are the consequences of signing Interspousal Grant Deed?
Why are they doing this? Only your loan agent knows for sure, but you should demand an explanation. Usually it has to do with credit scores, verifiable income, etc.
After the escrow closes, all you need to do is have your wife execute a new grant deed deeding the property to you and her as joint tenants or community property or whatever other form of joint ownership you want.
The last deed recorded takes presedence.
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