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The video tutorial addresses how to make a name change on a contract, explaining that the process depends on whether it is a change of the original buyer or a complete change of buyers. In the case of a simple name change due to marriage or divorce, a name affidavit can be prepared. It is important to inform the lender about the name change and ensure that the ID used at closing matches the new name. If the name change involves a change of buyers, additional steps may be required.