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?
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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.
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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.
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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.
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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.
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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.
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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.
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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
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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?
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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.
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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.
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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.
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