Posted by hcampers/fl on 8/24/05 11:55am
Msg #61355

I'm not sure how to do this...

I just called to confirm with BR for appt. tomorrow.

Everything is good to go but then the BR tells me that along with she and her husband there will be another person there. I guess 4 years ago she and another man bought the house and now he is signing it over.

I am assuming that is is a q. deed or somthing like it. I don't have the doc's yet so I'm not really sure what paperwork will be involved but I do know that if it is a deed I will need at least 1 witness besides myself correct? Also should I charge more for this? I really don't know if I explained it well but maybe someone will be able to give me an answer.
Thanks so much,
Beverly

Reply by SarahBeth_CA on 8/24/05 12:26pm
Msg #61363

Well I wont tackle the answer because I'm not up on FL laws. But it's good to know that the borrower is aware of all the parties signing and that they need to be there.

Reply by Cherilyn in CO on 8/24/05 12:47pm
Msg #61379

Yes! I had this happen to me and had to wait for 3rd party..

as there was a quit claim deed for her to sign. I guess she had co-signed for her sister some years back and they were taking her off when they refinanced. Well, the borrower didn't know she need to be there and I didn't know she needed to be there. Luckily she was pretty close and ran over, but it was a pain. You would think the LO would have mentioned it?

Reply by Art_MD on 8/24/05 12:31pm
Msg #61367

Not in FL.
There should be a QC deed.
I believe in FL you need 2 witness's, one can be the notary.
I would confirm with the borrower that they will supply a witness - and tell the borrower that the witness will have to have sufficient ID.
The other man signing the QC should only have to sign the QC.
No extra charge - unless you have to bring a witness then $50 more if close to home, more if it a distance away.

Check FL law regarding the above. All is JMHO.

Art

Reply by MelissaM/FL on 8/24/05 2:03pm
Msg #61407

If there is a QC Deed in the package, you will need a second witness for the Deed. I assume that you already know the borrowers cannot be witnesses to the Deed since they have a financial interest in the transaction. You might want to let them know that the 3rd party who is signing the QC Deed should bring you both a copy and the original of their ID so that you can verify who they are AND send a copy of the ID to the TC or Lender who hired you.

I don't normally charge more for a QC Deed if it is included in the package and is part of the loan (husband to himself and wife, for example), but I suppose that one could (and maybe should) charge more because a 3rd party QC Deed is definitely above and beyond a normal loan signing. You have separate issues with identification, notarization and witnesses. You may even have to provide that extra witness, which would definitely entail an additional fee, IMO.

Beverly, if you need further info about QC Deeds in FL, I'd be willing to help you out. [e-mail address].

Reply by PAW_Fl on 8/25/05 7:27am
Msg #61600

I've done a few 3-party QCDs where one party is being dropped from title. There's usually no additional hassle warranting additional fees. You're right in the process for each signer on the deed must be properly identified, but as far as providing copies of ID to the TC/lender, I advise against that unless specifically requested by the TC/lender. Usually, the lender requires copies of ID's for those opening the account as it is part of their CIP under the Patriot Act. Someone not a party to the loan, but on title (non-obligated signer) or someone being taken off title should not need to provide copies of their ID. Obviously, when you notarize the QCD signers signatures (in FL), you must annotate the certificate with the type of ID used. But that's it.