Chucks! Adding the wife name costs me $650.
FYI
I have been told to add my wife name to the deed for the legal and tax benefit in case i die (since I has been hospitalized for a few months).
- I bought a new HGVC TS in March 2015, with my name only on the deed (without realizing it since the sale doc. asking for "Your name:" only, not stating it cleared that the name here "...." will be recorded onto the deed). By the time i realized it and notified the agent, I was told it too late and I needed to correct it later on my own after the transfer is completed.
- Then, in June, I (mistakenly - from high med and got confused) bought another HGVC TS. This time I knew to write down my wife name as well when asked "Your name...." in the sale doc.
- When the second TS closed and completed, I ended up with two HGVC accounts and could not merge them since the names on the two titles are not the same.
- So, i called HGVC up and was told it is not a big issue, just call Chicago Title and they will handle and correct it.
- I called Chicago Title and was told the same that it is not a big issue, they have added my wife name to the new deed. It was a nice very guy young man talking.
- At the end, he told me "it would cost $650 and how i would like to pay".
- And I said "WHAT!!!!?", and I am also fall onto the ground. What is the $650 covered? He said to pull the title from the county (HI).
Unimaginable that it would cost that much for that mistake!!! When I purchased the first TS, the fee for title transfer only cost $500. This is to protect in the case i die and to be able to joint the two accounts into one account so the points can be combined when i tried to reserve the resource. Since both TS are from the resale market and I got them very good price (thanks to TUG BBS), i figured i already saving a lot of money so i should not care about the $650. But I will lost a sleep tonight and how am i going to explain to my wife who has been bringing a lunch to work everyday to save $10 for our Children's Christmas gift. Chucks!!! I am dead!
So, lesson learn for the first time TS buyer or the new TS buyer, get the names to be recorded on the deed straight and agreement with your wife before return any documents back.
Also, they almost forgot to add my wife middle init. It would have cost me another $650 if i didn't catch that mistake! OMG!!!