Wife needs to Sign at Closing? (Even if title/loan on husband name)

[dream16]

Can anyone please help me understand this rule, this is what the bank says:

Bank to obtain Non-Borrowing Spouse Signature Requirements

Lender to obtain state required signatures at closing from the non-borrowing spouse.

What if wife is absent on the closing day? As per CA law, then closing cannot happen? So far, bank has stayed quite on this question when asked

 

[irvinerealtor]

If the wife will not be in town on the date of closing, you can set this up ahead of time with the escrow/title company.
The spouse can sign an interspousal or quitclaim deed which will be recorded simultaneously with the the new note.
Depending on the particular lender, they may make an exception for you and allow for it (and have the spouse sign later) but they may be opening themselves up to stickier situations and be very hesitant to do that.
(what happens if the spouse refuses to sign later on?)

Hope this helps.
-IrvineRealtor

 

[Perspective]

Why do spouses choose to be title-only, or worse, borrower not on title parties? This makes no sense to me, especially in a community property state.

 

[gasman]

Spouses always need to sign a subset of the closing docs even if they are not on loan.  They will be on title and their signatures will be required for county filing.

I've seen this happen for several reasons, including low spousal credit scores, single family income (no spouse employment), etc. that can potentially affect loan approval.

I've personally filed in this manner during a refi on a rental property that I owned prior to marriage, and didn't feel it necessary to add my wife to the mortgage.  Title was filed as community property.

 

[Irvinean]

Another way to go about it is to obtain power of attorney for you wife so you can sign on her behalf on closing. It's a bit of a hassle but if you have time, it should not be too difficult.

 

[dream16]

If the wife will not be in town on the date of closing, you can set this up ahead of time with the escrow/title company.
The spouse can sign an interspousal or quitclaim deed which will be recorded simultaneously with the the new note.
Depending on the particular lender, they may make an exception for you and allow for it (and have the spouse sign later) but they may be opening themselves up to stickier situations and be very hesitant to do that.
(what happens if the spouse refuses to sign later on?)

Hope this helps.
-IrvineRealtor

Thanks for helping out, the escrow guys simply asked me to have my spouse sign in front of a notary the Interspousal Transfer Grant Deed and sign a Interspousal domestic deed instructions doc and thats it...!