Posted by Bob_Chicago on 3/12/09 11:52am
Msg #280448

"Marital Docs" revistied. The Question of IF the signature..

of a NBS is necessary on a mortgage/dot, to make the interest
of the NBS in the PIQ subject to the lien of the mortgage is a matter of
state law as interpreted by the the lender/TC .
Once that decision has been made, the question of which dox the NBS needs
to sign is determined by the policies of the lender/TC (as applicable) .
A NBS with an interest in the PIQ should be given two copies of the RTC (if applicable)and
a copy of the TIL (if applicable) per applicable federal law.
I do not believe that having a NBS sign dox, would create an interest of the NBS
in the PIQ if the NBS does not have such an interest by virtue of aplicable state law.
It could, however, screw up a loan funding.
A NBS should NEVER sign note, HELOC loan agreement or 1003.
Again , the best NSA practice is to get instructions, preferably, in writing from the proper
party. Sometimes, however, this is not possible.
Generally the NBS would sign the MTG, TIL, itemizatoin , RTC, correction
agreement and "title dox"
Generally speaking , an extranious, unneeded signature will not void a doc, nor
create a legal interest where none exists.
An unneeded signature on a doc should not precllude a funding. A missing, necessary
signature will.
Not to be construed a legal advice, yada yada.

Reply by Sylvia_FL on 3/12/09 1:04pm
Msg #280463

"Generally speaking , an extranious, unneeded signature will not void a doc, nor
create a legal interest where none exists"

Depends! I had a signing once where the wife was a NBS as per instructions. However they had her name on the signature lines of the Note. She called company who told her to just go ahead and sign it, she wouldn't be obligated. She refused to sign it. I think if she had signed it she would have been obligated.

Reply by JAM/CA on 3/12/09 1:09pm
Msg #280464

I had one where the wife was the NB spouse, but signed the note as a Trustee, not an individual. Husband signed as both.

Reply by Bob_Chicago on 3/12/09 1:20pm
Msg #280468

Agree that this is correct. I was, of course, referring to a

NBS signing note (heloc loan agreement) in their individual capacity.

Reply by Bob_Chicago on 3/12/09 1:17pm
Msg #280466

As I said. ...

"A NBS should NEVER sign note, HELOC loan agreement or 1003"
An unneeded signature on a "lien doc (eg. mortgage) will generally not create an INTEREST in the PIQ, where none exists, but an unneeded signature on an "obligation doc", might
create a liability . where , none was intended.
Agree, that she was correct in refusing to sign note.
By definition, a NBS is not obligated on the debt, but is signing reqd dox in order
to make their interest ,by virtue of being married to the obligated signer ( and in most cases ,
because the PIQ is the marital home), in the PIQ, subject to the lien of the mortgage.
By virtue of having an interest in the PIQ they have the same RTC rights as the obligated
spouse and aren entitled to two copies of the RTC , if any, and a copy of the TIL, if any.

Reply by jba/fl on 3/12/09 1:58pm
Msg #280476

What is a PIQ? n/m

Reply by Linda_H/FL on 3/12/09 2:00pm
Msg #280477

"Property in Question...:) n/m

Reply by Bob_Chicago on 3/12/09 2:01pm
Msg #280478

"Property In Qustion" TC short hand for for the parcel of..

real estate that is the subject matter of the transaction.

Reply by jba/fl on 3/12/09 2:24pm
Msg #280482

TY - shorthand for Thank YOu. n/m

Reply by sue_pa on 3/14/09 1:06pm
Msg #280736

Bob, I basically agree that signing "stuff" probably won't give someone a marital interest if one doesn't already exist ... but we've got no idea.

PA has a little quirky law that very generally says if someone inherits assets, if they don't take specific steps to make those steps marital (such as putting the spouse's name on the deed or depositing a check into a joint account) those assets remain outside the marital estate. I've got no idea the exact details of the way this works but my point was ... WE NEVER KNOW and someone having a generic check list of "marital docs" and someone in our position making that determination on their own is absolutely 100% wrong.

I do one loan package routinely that doesn't have the nonborrowing spouse sign the TIL - I've done this same loan for years and that's the way they want it ... compliance/correction agreements, name affidavits, etc., everyone is different, to say nothing of a settlement sheet and titlel docs.