Wednesday, January 14, 2015

Does your realtor and your settlement attorney know your name?!

Call:  (301)943-4370

Remember the Lynyrd Skynyrd song:  'What's your name, little girl?  What's your name?'

In one of my recent real estate transactions, the settlement attorney realized that there was an error in the seller's names, which needed to be resolved in order to complete the home sale.

The sellers purchased the home using the same last though the wife took on the husband's last name, which is common enough.  He was Mr. X and she was Mrs. X on the contract, the deed was recorded as Mr. X and Mrs. X and the tax records showed the owners being Mr. X and Mrs. X. 

The problem was that, while the sellers went by and go by Mr. X and Mrs. X, the wife never legally changed her last name.  So, the deed and tax records were incorrect.  Fortunately, the settlement attorney is solution oriented, was able to think on his feet of a solution, while we were at the  settlement table and the buyers walked away from the settlement table as the new home owners.

Dale Carnegie once said:  "Remember that a person’s name is to that person the sweetest and most important sound in any language".  

If Dale Carengie was around today, I bet he would add that a person's name is also the most important image he/she can see in any language.  We cringe when our names are mispronounced, said incorrectly (for example, a person  speaking assuming that spouses share a last name which is not a given, especially these days) and when our names are spelled incorrectly or inaccurately in print.

So, when buying a home, remember to make sure you tell your realtor and the settlement attorney your "legal names". 

If you are a settlement attorney, when you get copies of the buyer's and seller's driver licenses or passports, make sure upfront that the names on these pieces match the names on the sales contract or have it corrected immediately.

There is a saying that we should measure twice and cut once.  That especially applies to legal documents. 

So, make sure your realtor and settlement attorney know your names.

And, any time you or yours is thinking about moving, has a real estate question and/or wants to talk about the market, call or email me.  I appreciate you thinking of me and always have time for your referrals.

Life is good!

Adam Bashein
Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
Information deemed to be accurate, but not guaranteed.


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