Search Site
307 West Rio Road | Charlottesville, Virginia 22901
Call For Consultation 434-973-7474

William D. Tucker, III │Who is on Title to the Property?

Make sure the settlement attorney knows of everyone who will be on the deed to the property, especially if they are not going to be on the loan. Individuals who are not going to be on the loan are sometimes not listed in the contract. (In short sale and REO transactions, the deed into the new buyer(s) must match who is listed on the contract.) It is therefore important to share this information as soon as possible during the closing process.

The non-borrowing co-owner does not need to sign most of the loan documents. However, there are some loan documents and other necessary documents such as title binder, title insurance, and homeowners insurance which require the names of all owners (whether they are the borrower or not). Also the deed will need to be prepared with all correct names of the owners. The non-borrowing individuals will also then know ahead of time that they too need to be at closing to sign paperwork.

If the new owners want to take ownership in the names of their Trust, this has its own set of issues. The lender may need to see the trust and sometimes obtain an attorney opinion letter regarding the terms of the trust. Also the attorney preparing the deed for the Sellers needs certain trust information to properly prepare the deed.

Tucker’s Tips has found that communicating this information from the start will make the settlement process a more positive experience for all parties involved.

Tucker Griffin Barnes P.C.



Leave a Reply

Your email address will not be published. Required fields are marked *

See Our Videos
  • Charlottesville Personal Injury Attorney - It Is About the Money

  • Charlottesville Divorce Attorney - What To Expect During Your First Family Law Consultation

  • Protect yourself during Move-In or Move-Out of an Apartment

  • How do I find a good personal injury attorney?

  • Charlottesville Estate Planning Talk

  • Charlottesville Personal Injury - What Is My Case Worth?

Meet Our Attorneys
  • ""Bill Tucker and his team were the answer to my real estate prayers! After being transferred to another state .."" - Short Sales

  • ""Yvonne Griffin represented me in an accident case that required many months of hands on attention .."" - Personal Injury

  • ""Ms. Barnes, I cannot thank you and your staff enough for taking my case at was a very dark time for me .."" - Social Security Disability

  • ""Lynn Bradley has been a force that has proven to be competent, professional and exceled at her work .."" - Worker's Compensation

  • ""Ms. Hakes, Thank you so much. You don't know what a wonderful gift you just gave to me, my son's .."" - Criminal Defense

  • ""When you first interview Laura Butler, it is apparent you are in the presence of a true professional in all .."" - Family Law

  • ""Mr. Tucker, I cannot thank you enough for all your work. I wish everyone had your work ethic and attention .."" - Real Estate

Firm Awards & Recognition
Contact us

Main Contact Form