This is a hypothetical question, and I realize it falls outside a notary's area of authority, so it would be foolish for a notary who is not an attorney to discuss this with a client or signer.
Suppose a buyer does a remote purchase. The buyer signs his documents, hands over the check, and the critical docs are faxed to Title at noon (the Title company was hired by the seller). The package is handed to a FedEx desk clerk at one o'clock. The Title company ponders what they have received, decide everything is in order, and wire funds at four o'clock. They hold on to the title, intending to send it to be recorded tomorrow.
But, at two o'clock, one hour after the buyer's package is submitted to Title, and before Title takes any action on it, the house burns to the ground.
Can the buyer claim that the deal is null and void, because the deed had not been delivered to him, and thus the seller still owned the property at the time of the fire? |
