How can you sell a home owned by 2 people if one of them is nowhere to be found?
Timothy asked:
My friend is going into foreclosure. I found someone to buy her home but her husband has been missing for 9 months they have been seperated for 1 year . He is on the run from the feds for fraud charges. As far as I know you need both peoples signatures to sell a home owned by 2 people.
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My friend is going into foreclosure. I found someone to buy her home but her husband has been missing for 9 months they have been seperated for 1 year . He is on the run from the feds for fraud charges. As far as I know you need both peoples signatures to sell a home owned by 2 people.
November 24th, 2008 at 4:32 am
You will probably want to consult an attorney on this one, but you can also ask a realtor or broker … find someone who’s been in real estate for at least a decade, as they might have seen situations like this before.
In the meantime, have you asked the person who wants to buy the house if he or she would be willing to take over payments or room with your friend in the short term so your friend doesn’t lose the house? You guys can work out an agreement, write it up as a contract, and that should protect both the buyer and the seller until your friend’s huband can be found or an attorney can find a workaround.
Best of luck!
November 27th, 2008 at 4:02 am
This will vary by area. In my area, you have to post notice about the pending action, wait 30 days, then fill out some property abandonment forms. Definately, you’ll want to talk to a title company or an attorney. You won’t receive title insurance (which is a must if the house is to be financed) unless you go through the proper steps.