FOGGY VIEWS

As you have likely heard by now, Marriage Equality is now the “law of the land” in California.  My partner and I haven’t yet run down to City Hall to “tie the knot” (we’re waiting for our 20th Anniversary in 2010), but I send out hearty congratulations to all those who have.

From a real estate perspective, you may be wondering how this change affects things.  As such, I’ve attached below a note that I received this week from a Title Company:

You are probably aware that the California Supreme Court has ruled that marriage restrictions for same-sex persons are unconstitutional thus paving the way for the legalization of these unions in California. I wanted to make sure you understand how title insurance companies are prepared for this ruling. 

Generally speaking, underwriting guidelines for these transactions will be the same as transactions for heterosexual couples.

 Manner of Taking Title

Our reliance on statements by parties in a transaction as to their marriage status will not change.  The manner in which title is taken in a deed will be the same as our current practices for married persons. 

Suggested are the following: 

1)     John Smith and Robert Jones, a married couple, as community property (or as joint tenants, or as tenants in common, or as community property with right of survivorship);

2)     John Smith and Robert Jones, husband and husband, as community property (or as joint tenants, or as tenants in common, or as community property with right of survivorship);

3)     Mary Johnson and Susan Williams, wife and wife, as community property (or as joint tenants, or as tenants in common, or as community property with right of survivorship).

The couple taking title should advise us as to which of the above shall apply.  There may be other permutations in requests we receive for showing married persons.  Any such requests may be referred to advisory personnel or counsel for assistance. 

Other Considerations

We will not require evidence of the legal status of such unions any more than we would for heterosexual persons.  We are able to rely on such representations by the parties as we are with any persons making such representations absent actual knowledge to the contrary.

Summary

There may be issues and circumstances that arise as the process evolves and that we currently do not contemplate.  Generally speaking, however, our escrow and title practices should be unaffected by these changes.