Partnerships

Partnerships: Underwriting Guidelines

In most instances, the Company requires the signatures of all partners on a deed or mortgage. Only if the authority is specifically given to less than all partners to sell or mortgage, or if the partnership is in the business of buying and selling real estate, can title be insured based on a deed or mortgage without the signatures of all partners. 

 

Generally, joint ventures should be treated just as partnerships are treated. If less than all joint venturers are executing the documents, written authorization to act on behalf of the joint venture is required. Title under joint ventures must be vested in the individuals names, (e.g., Tom Jones and Jane Johnson d/b/a/ J & J Company, a joint venture). The deeds must be executed individually and the acknowledgment also made as to the individual. If married, their spousesí interests must also be accounted for.

 

See also:

 

Deeds