Once we find out that the property has solar, the immediate next step is to get the solar contract. This will tell us if the solar is financed or if it’s being leased (not owned by client).
If it’s being leased, and not owned by the client, then it’s an easy temporary removal of the UCC. Can’t subordinate something that’s not owned.
- Tesla has a website where we can request the contract, UCC Termination and Fannie Mae addendum form that I find extremely helpful and therefore don’t use Title as a middle man.
- Other companies have processes in place where we can request the contract directly from them. It only takes a call to the solar company to find out
- Request from the client or pull from the previous file
- Request from title