Legal Question in Real Estate Law in New York
real estate closing
my husband and I are selling our home and the title is in both our names. I would like to deposit 1/2 the proceeds from the closing in my own bank account. Is it legal to request that separate checks be written for me and my husband at the closing, or could 2 checks be written in both of our names, each one for 1/2 the proceeds ?
If legal, do I need to discuss this before the closing with the attorney ?
Thank you !
1 Answer from Attorneys
Re: real estate closing
Q. Is it legal to request that separate checks be written for me and my husband at the closing, or could 2 checks be written in both of our names, each one for 1/2 the proceeds ?
A. Yes. You may have the checks written any way you want.
Q. If legal, do I need to discuss this before the closing with the attorney ?
A. Yes, since the purchaser needs to know before the closing how the checks will be paid. Remember, the purchaser should be purchasing the home with a bank check.
Mike.
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