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bank issue payment to whom?

 
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kay



Joined: 11 Jan 2008
Posts: 1

PostPosted: Fri Jan 11, 2008 5:32 pm    Post subject: bank issue payment to whom? Reply with quote

i have an apartment which is in 2 names (mine & my ex's).the loan is in my name.i am servicing the monthly loan.

my questions is ; if i sell it to a 3rd party , will the bank issue the cheque in 2 names ? (since S&P is under both my name & my ex's) ??

another scenario is ; if i sell it to my ex's , will the the bank issue the cheque in both our names ?? please advice..
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cynthusc



Joined: 16 Sep 2005
Posts: 310

PostPosted: Thu Jan 17, 2008 11:31 am    Post subject: Re: bank issue payment to whom? Reply with quote

kay wrote:
i have an apartment which is in 2 names (mine & my ex's).the loan is in my name.i am servicing the monthly loan.

my questions is ; if i sell it to a 3rd party , will the bank issue the cheque in 2 names ? (since S&P is under both my name & my ex's) ??

another scenario is ; if i sell it to my ex's , will the the bank issue the cheque in both our names ?? please advice..


Yes, unless your ex authorises that the money is paid to you alone or that there is a court order or power of attorney allowing you to receive the proceeds
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