Posted by ME~MS on 6/22/04 6:45pm
Msg #3354

Deed of Trust

If the spouse is on the Deed of Trust (just for my curiosity) does that mean she owns half the property?

Reply by PAW Notary Services on 6/22/04 11:23pm
Msg #3368

Anybody who is on the DOT has an "interest" in the property. How that interest is divided, depends on other wording on the deed and state laws. For example, here in FL, we are a spousal state, so by law, notwithstanding any other contradicting documents, a husband and wife would both be on title and each have an equal share of the property. Even if only one is "obligated" on the note. Normally, I submit that anyone mentioned on the deed would have equal interests in the property. Thus, if a spouse's name appears on the deed (and title), then typically, the spouse would enjoy a 50% interest in the property.

Reply by HisHughness on 6/22/04 11:44pm
Msg #3371

This can get complicated. For anything a signing agent would be doing with a Deed of Trust, I'd suggest that you just assume that she has an interest in the subject property. The nature of the interest -- community property interest, undivided interest, etc. -- shouldn't be of any concern for anything you would do as a signing agent; that's the title company lawyer's responsibility. In fact, about the only thing I think a signing agent needs to worry about is if a spouse in on the deed. If so, he/she signs it. If not, he/she doesn't.

As an aside, in community property states, the spouse acquires an interest in spousal property just by virtue of being married (that's an overly broad statement, but I don't want to bog this thing down). So, even though the other spouse elects to assume sole responsibility for paying the loan and thus is alone on the note, both spouses' names go on the deed.

Reply by PAW Notary Services on 6/23/04 8:42am
Msg #3380

Subscribing to the KISS principle:

Deeds and mortgages are signed by whoever's names appear on the document. There may be extenuating circumstances that the signing agent/notary is not privy to that would preclude a spouse from being on title and thus on the deed/mortgage. When in doubt, call the title company. If you can't get a hold of anyone to assist, go with whatever is printed on the docs and let the lender and title company work it out later.