| opinion for a lending institution | ||
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----- Message from "Kristy Arzberger" <karzb@netconx.net> on Tue, 23 May 2006 07:28:08 -0600 -----
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To:
| <realestate@iabar.org> |
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Subject:
| antenuptial contract |
To Real Estate Bar Members
I have a situation wherein I prepared an opinion for a lending institution My opinion shows title in the name of Seller"..., with spouse, if any, holding dower interest". Seller is married. Seller’s attorney informed me that the Seller ‘s wife was not able to be located. The titleholder (Seller) indicates he has no idea where she is. The parties are still married and no divorce action has been commenced to my knowledge.
Seller and his wife executed an Antenuptial Contract executed December 2, 1994, the wife being a Minnesota resident, the husband (seller) being an Iowa resident. Said Contract grants each party the sole and exclusive right to sell, mortgage, transfer, convey and dispose of any property he/she may now own or later acquire other than by virtue of marriage, as if he/she were not married and without joinder of the other in any instrument or conveyance.
In relying on Title Standard 5.3, my title exam required the grantor and his spouse to execute the deed. This property is not titleholder’s homestead.
Seller’s attorney believes the Antenuptial Contract negates the necessity of titleholder spouses’s signature.
Would you opine that the transfer can occur
without wife joining/signing without concern of liability and if so, in
reliance upon what?? Any input would be greatly appreciated.