OWNER OF RECORD NAME CHANGE ON REPORT COMPLETED 11/2022

[deepearce]

Certificate of Merger dated 2009 has been sent to me by the lender on an appraisal completed 11/2022. I included the publicly recorded owner of record which is also on the purchase agreement. The lender wants me to revise the owner record name according to this merger certification. Is this a new appraisal assignment, or can I change the name and include verbiage and documentation to support change?\

 

[Fernando]

Having been in real estate for decades, I never heard of Certificate of Merger. Must be a North Carolina thing.

 

[TerryRohrer]

Owner of record is not an assignment element, so changing it doesn't necessitate a new assignment.

 

[Terrel L. Shields]

I would explain where and why the "owner of record" was what you stated and this information was provided post-report AND I'd send a bill for my time.

 

[sputnam]

If there is evidence that the owner of record that in the source you checked was incorrect, then just change it (of course with comments added to explain the change). It can happen. Say, you based your owner of record on information from the tax department which hasn't yet updated to report a new owner. Very common. Could even happen if you look up the deed... since, there is sometimes a lapse between the time a deed is delivered to the county and the time the county's website reports the new owner. The situation can also occur when there has been a death. In some states (maybe a lot of states), the real estate transfers to the heirs immediately upon death. Appraisers.. mostly.. don't do title searches.

I'd tell the Lender... 'According to (source), XXXX was the owner of public record as of the date of the appraisal. If you can provide me with some documentation that there was a different owner as of the effective date of the appraisal, I'll be happy to make the change.'