November 9th, 2020 at 5:27 pm
Answer: Yes, but that may not be the best approach. One problem is that, if the buyers will be obtaining financing, John’s name might have to be on the contract for the buyers to be eligible for a VA loan. Also, check with the lender, but John’s name may also be needed on the contract if his income will be used to qualify the buyers for a mortgage loan. Alternatively, you can write the offer in both names to satisfy the lender, but Jane cannot sign John’s name, and the seller may decide not to accept the offer without John’s signature.
Another problem with inserting “and/or assignee” is that the seller will have the right to approve any assignment to a “specified assignee” (see paragraph 26 of the RPA). Hence, it may be better to go ahead and identify John as the “specified assignee” upfront when writing the offer. So instead of “Jane Soldier and/or assignee,” you may want to say, “Jane Soldier, with John Soldier to be added as an assignee.”
Another possible solution is that, when we can finally get ahold of John, ask him to sign and send over a Power of Attorney to allow Jane to sign the real estate documents on his behalf. The Power of Attorney, however, must be notarized if Jane will eventually use it to sign any documents that must be recorded with the County Recorder’s Office, e.g. a deed of trust.
-Happy Veterans’ Day on November 11! We are deeply grateful for the brave men and women who have served our country.
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