they agree to sell the property and divide the profit between them.one insists on two separate checks to insure fairness. hia name is second on the deed.the fother party insists on one check in her name ,says she will deposit and give him his half!!!!!
2006-09-10 17:23:52 · 6 answers · asked by mcmonaglek5 1 in Business & Finance ➔ Renting & Real Estate
Yes!! without a doubt two drafts can be cut. If either party request it to be so. It does not matter who's name is second on the deed. the matter is they own the property jointly. The escrow office will make the check out jointly anyway, and one can not cash the check without the other. keep peace and have two checks drawn.
2006-09-10 17:34:16 · answer #1 · answered by MS Williams 5 · 0⤊ 0⤋
There is no need to keep proceeds on one check and it doesn't matter who's name is first. Yes, it is possible to have 2 separate drafts. Contact the escrow company, closing agent, or attorney who is handling the sale and instruct them to issue two separate checks. It might even be easier to have the proceeds divided and wired into the separate owners' bank accounts.
Good Luck!!!
2006-09-11 01:08:19 · answer #2 · answered by LasVegasMomma 4 · 0⤊ 0⤋
Yes you can ask for the disbursment check to be made out to the sellers in two seperate checks. If one of the owners insists on one check and knows that they can dispurse it in 2 then something is fisshy - unless they charge you for the second check for some reason (but they shouldn't)
2006-09-11 00:33:56 · answer #3 · answered by swim32 2 · 1⤊ 0⤋
2 checks, for sure.
How can the other joint owner trust the one who is insisting on one check?
The joint owner can demand that his share be paid directly to him.
It makes no difference whose name is first on title.
The other joint owner is acting in a suspicious way, by insisting that the money be paid to her.
If it were me, I would refuse to sign anything until the buyer agreed to pay the amounts separately. (Or pay it somewhere safe like a lawyers trust account.)
Hope that helps!
2006-09-11 00:33:59 · answer #4 · answered by Peter 3 · 0⤊ 0⤋
If they are joint owners, then a single check would be made out to both of them, unless they make arrangements to have separate checks.
2006-09-11 00:31:43 · answer #5 · answered by snvffy 7 · 1⤊ 0⤋
Yes they can make the checks out however you want them. Split between two people or made to one person.
2006-09-11 00:25:57 · answer #6 · answered by Lady G 3 · 1⤊ 0⤋