Prevent Potential Transaction Delays

California is one of the few states that are community property states, which means that your buyer must provide marital status, e.g., Husband, Wife, Married Woman as Sole and Separate Property, etc. Registered Domestic Partners also need to choose how to hold title together. Vesting information, which concerns either individuals (such as a married man and woman) or entities (such as a corporation, partnership or trust) must also be provided to the new lender so that loan documents may be prepared accordingly.

Use the quick checklist below to help you streamline these processes and avoid possible delays in your transaction.

Quick Checklist

  • Has there been a change in marital status? __ Yes __ No
  • Are sellers of property not residents of California? __ Yes __ No
  • Are principals using power of attorney? __ Yes __ No
  • Are principals exchanging the property? __ Yes __ No
  • Are any of the parties in title deceased? __ Yes __ No
  • Will there be a new entity formed, such as a corporation, LLC, or partnership? __ Yes __ No

If you answered “Yes” to any of these questions, then be sure to contact your Escrow Officer to be certain there aren’t any potential delays that could be easily avoided.