Join  |  Login  |   Cart    

Notary Rotary
vesting on deed of trust
Notary Discussion History
 
vesting on deed of trust
Go Back to April, 2005 Index
 
 

Posted by CaSigner on 4/29/05 7:37pm
Msg #34954

vesting on deed of trust

I have to have the borrower initial "next to the vesting on the Deed of Trust" as the vesting is wrong. So sates the lending company. What is the vesting? where should they iitial?

Reply by Big B on 4/29/05 8:06pm
Msg #34955

vest -transitive and intransitive verb to settle or confer property, power, or rights on somebody, or to be a part of somebody’s property, power, or rights

In other words, it sounds like the borrower is granting someone else on to the Deed of Trust. Call the company that assigned for exactly the manner in which they want this completed if you are uncertain.

Reply by CaliNotary on 4/29/05 8:10pm
Msg #34959

Or in plain English, the words after their name on the Deed of Trust - husband and wife, a single man, etc. More than likely there will be some strikeouts on the first page of the DOT that they need to initial next to.

Reply by Big B on 4/30/05 12:55am
Msg #34992

Which word did you not notice as "plain English?"

Notaries should not make assumptions. They should check with the title company or lender. This does vary from state to state.

We are here to assist each other; not sound sarcastic or demeaning.

Reply by ERNA_CA on 4/30/05 1:01am
Msg #34993

Not upto you to deside where they initial, if borrowers are to strike out anything as by lender or title instrutions thats who should instruct them what to strike out corect and inital.
If they have not been instructed on what to do have them call lender.

Reply by sue on 4/30/05 9:09am
Msg #35016

she didn't say they were to strike anything out. she said they were to initial beside the vesting. That's pretty clear. I as a borrower would not do that as it clearly indicates to me that they are going to change something and I would want to know what that 'something' is.

Reply by CaSigner on 4/30/05 9:47am
Msg #35022

I appreciate everyones imput, and yes I was instructed via email to simply "have borrower initial next to vesting on DOT, because the vesting is wrong" That's a direct quote. My question was where is the vesting located so I can have them initial. I would never "strike out" any info on the DOT.

Reply by ERNA_CA on 4/30/05 12:35pm
Msg #35064

Initial something to be changed later, I would not do that either if I was a borrower. Deed of trust is a recorded instrument, Very important that it is correct, cant understand why they just didn't send a correct one to you as they knew of the problem. Hopefully the borrowers have a number to call to find out what is required. Good luck

Reply by CaSigner on 4/30/05 1:51pm
Msg #35102

Ok, but back to the original question. Where is the vesting? Not should I or shouldn't I, but where on the DOT is considered the vesting?

Reply by PAW_Fl on 4/30/05 9:30pm
Msg #35172

The "vesting" is the listing of the names (and often addresses) of those who have an interest in the property. That is, those who are "on title". In the first paragraph, or so, of a deed, it will list those who have an interest that are giving or deeding that interest to someone else. Basically, it is the name of the grantor(s) as their names are vested on the title. Thus the term, the "vesting" on the DOT or mortgage is where the names are listed.

Reply by Bill/CA on 5/1/05 3:04am
Msg #35207

Call the title company or email them and ask whatthe vesting is being changed from and to? So you can tell the borrower why they are doing this. That way you will know exactly, plus understand what to do.
Good Luck.

Reply by ERNA_CA on 5/1/05 7:21pm
Msg #35208

I had a similar issue at a signing last week. Names to be vested in were listed as the womans maiden name and her husbands name instead of her married name. Title redid the Deed and I went back the next day. All other documents had her married name even the Deed signature page. What they did was go off her old deed which was in her mailed name. Mistake they corrected by redrawing the Deed.


 
Find a Notary  Notary Supplies  Terms  Privacy Statement  Help/FAQ  About  Contact Us  Archive  NRI Insurance Services
 
Notary Rotary® is a trademark of Notary Rotary, Inc. Copyright © 2002-2013, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.