What are the implications on home and business purchase ifI change my name?
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What are the implications on home and business purchase ifI change my name?
Am in process of buying a home and business. I wanted to change my name (for business reasons) to make it more easily pronounced. What are legal implications given that both purchases will likely occur 2-3 weeks after I file for name change and what are some things to look out for from a credit perspective, etc?
Asked on October 2, 2010 under Business Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Suggestion: don't change your name yet. While you have a legal right to change your name, if there is any delay or confusion in getting this done, it can greatly complicate large transactions like this, since it you may have trouble proving your identify, accessing credit, etc. Legally, IF everything went off without a hitch, there'd be no problem--but does that ever happen? For example, suppose your bank now has trouble verifying your identify and therefore won't provide the mortgage?
Close the big sales. Then change your name legally. Remember, you can informally go by anything you like--so even in advance of legally changing your name, you could tell customer and clients to calll you by the more easily pronounceable version; or for that matter.
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