Posted by 1stopnotary on 10/26/05 11:55am
Witnesses for Mortgage/Deed signings
In Florida we require to have a witnesses for the Mortgage /DEED signings. The mortgage/closing/loan is only in the wifes name. Spuse is NOT mentioned in any of the paper work at all.
He is the only witness to sign the paper work w/ proper documentations.
I can't find where relatives are not allow to witness this..and someone told me that relatives can't. Does anyone know for sure if this is true and where this is documented. After all, I've had relatives who live in the home or near by who are 18 y/o or older and does not gain anything from the loan/house sign and had not had problems with this w/ TC/lenders as of yet that I knoweth.
Reply by MelissaM_FL on 10/26/05 12:25pm
I worked for a real estate attorney for years and he always required a non-interested third party as the witness for any real estate transaction to avoid future possible challenges to the legal documents (mortgage, deed, etc.).
Because of this, I never have a relative act as a witness in order to avoid potential future claims, whether from the borrower or from a relative of the borrower.
Reply by 1stopnotary on 10/26/05 12:34pm
So even if they can't find another witness... do we leave it blank or take the risk? If the person of the mortgage/loan feels its ok is it still wrong or am I wrong. Advise. Quite oftne, i do tell them ahead of time to have a witness and murphy's law they never have anyone near by to do it. but i do understand that theory and why..it does make sense.
Reply by MelissaM_FL on 10/26/05 1:03pm
I advise borrowers that we will need a second witness for a mortgage if the lender requires one but, if they don't provide the witness, I don't worry about it. If a second witness is required for a Deed, then I make certain that either the borrower gets a witness or I provide one. I do charge a fee if I have to provide a second witness because I normally have to pay my witnesses.
Reply by Becca_FL on 10/26/05 12:59pm
First of all, the State of Florida does NOT require witnesses on a Mortgage. Floridas witness requirement is for deeds of conveyence. The witness needs to be a non-related and/or dis-interested party. If the lender is requiring witnesses on the mortgage, it is the borrowers responsibility to provide the witness not yours. You really should know this stuff. JMO.
Reply by PAW on 10/23/06 12:12pm
First and foremost, **mortgages**, in Florida, do not require witnesses to the owner signatures (Florida Statutes Chapter 695.03). However, many lenders may require witnesses. In that case, the notary can be one of the "unofficial" witnesses as well as the "official" witness (i.e. Notary Public).
Though the law itself doesn't state who can or cannot be a witness (other than being a party to the transaction is not allowed), to remove any doubt of perception of collusion, the witnesses should be impartial, which means, no benefit to the transaction, not mentioned in the document (except as a witness if required) and not related to the signer(s).