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  1. #1
    Join Date
    Apr 2011
    Posts
    172

    Default Taking New Title

    My question involves real estate located in the State of: CA

    If you usually take title as Trustee of ABC trust. If there is a need for a co signer on the loan, does the co signer also have to be on title? Or can you take title normally, by the trust?

    This article is saying that co signer on loan doesn’t have to be on title,but I’ve heard from some people that sometimes escrow may require it.

    https://homeguides.sfgate.com/cosign...use-42797.html

  2. #2
    Join Date
    Sep 2010
    Posts
    19,863

    Default Re: Taking New Title

    Legally there's no link between the names on the title and the names on the loan. The entity who is the owner is going to have to consent to whatever security instrument (deed of trust, mortgage lien, etc) is used.

    The bank may or may not want the names on the loan and the title to match, but usually, they're happy with more people being subject to the loan than actually have a property interest.

  3. #3
    Join Date
    Mar 2013
    Posts
    18,229

    Default Re: Taking New Title

    Quote Quoting jyeh74
    View Post

    This article is saying that co signer on loan doesn’t have to be on title,but I’ve heard from some people that sometimes escrow may require it.
    Don't rely on articles or "some people."

    It's what the lender wants that counts.

  4. #4
    Join Date
    Jul 2018
    Posts
    2,678

    Default Re: Taking New Title

    Quote Quoting jyeh74
    View Post
    If you usually take title as Trustee of ABC trust. If there is a need for a co signer on the loan, does the co signer also have to be on title? Or can you take title normally, by the trust?
    Real estate lenders normally insist that anyone obligated on the loan also be on title.


    Quote Quoting jyeh74
    View Post
    This article is saying that co signer on loan doesn’t have to be on title,but I’ve heard from some people that sometimes escrow may require it.
    Escrow companies do not impose requirements. Escrow companies do what they are required to do by the escrow agreement that is made between the parties to the sale. If a lender does not require that a co-signer on a mortgage loan not be on title, then the escrow company has no place to insist otherwise.

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