Posted by NickyVA on 7/14/05 1:56pm
Msg #52139

How should I get the bwrs to sign this ?

on the last page of the DOT, there are four signature lines

______________________________________________________
Mr. Bwr, trustee of the Mr. Bwr revocable convertible trust agreement
______________________________________________________
Mrs. Bwr, trustee of the Mr. Bwr revocable convertible trust agreement

______________________________________________________
Mr. Bwr, individually

______________________________________________________
Mrs. Bwr, individually

My instruction say SIGN EXACTLY AS TYPED, so I am planning to get them to sign the whole thing. Is it ok ? or it is enought for them to sing just their "name, trustee" only for the first two lines?

How should they initial ? 1-Mr. Bwr initial, trustee , 2-Mrs. Bwr initial, trustee , 3-Mr. Bwr, individually, 4-Mrs. Bwr, individually . 4 initials in each page.. or just two without writing trustee or individually ? TIA

Reply by Iris Grayson on 7/14/05 2:03pm
Msg #52153

Ask the Lender/TC.

Reply by Ernest_CT on 7/14/05 2:04pm
Msg #52154

Somebody's got a sense of humor. Not me. n/m

Reply by NickyVA on 7/14/05 2:22pm
Msg #52165

Problem solved

I contacted the Lender. They have to sign their name and trustee, and individually.. that's it. As of the initials.. the LO said they do not require initials on the DOT (HELOC).

Reply by Notary4U on 7/14/05 3:15pm
Msg #52182

IF I were YOU- I would


not listen to the lender completely. Here's why. (and I have done these with trusts a lot) You should contact the TITLE co who did the searches and drew up the docs.

I had the lender telling me once that they had the original trustee papers etc and that they weren't supposed to have put that on there, yada yada yada.

Well, I know from my backgroud that it's not necessary true. I called the title company who searched the title, etc. and drew up the docs and they said...if it is written there it has to be written out...the whole shabang.

This is why:
Is the loan in Mrs. Borrowers name only? Whomever is taking out the mortgage has a lot to do with it.
If you notice the wording...the TRUST is for Mr. Borrower...it's set up for him. HE might not have to sign as a Trustee and just his name.

But Mrs Borrower is a TRUSTEE of Mr Borrowers TRUST. She WILL have to sign that way if 1. Mr. Borrower is the only person taking the loan out and maybe his trust is set up where a trustee HAS to also be a signor (incase anything happened to the person the trust is set up for) on any loans, mortgages, etc. BUT she will also have to sign JUST her name as a spouse if the state requires that spouses sign legals.

That is just one fo the scenarios...and if you can understand it and I explained it well enough...

My point is ...lenders aren't always the ALL knowing and you need to check with the people who do and know. This has to be filed with a county and they better know what signatures are needed.

FYI...I had a LO tell me once that I forgot tohave the borrowers sign the Assignment of Mortgage.....

I told him they don't sign that. He thought he was right all the way...so I told him when he sends me a confirmation saying that I was going to get another $100 for the trip fee I was charging since now I was late to something else, I will go back out and have them sign it. I asked WHERE he wanted me to have them sign....he said where the lines are and the "By" was...so I did...and then I asked him to take it to his processor and I want her to tell him that he's an idiot.

JMO o this but I would check...and I might be wrong in this case, but that have been my experience with them and what the title company has always told me.

Reply by JanetK/CA on 7/14/05 7:24pm
Msg #52257

Re: IF I were YOU- I would

I'm with you on this. There are so many possible variations. Not that the escrow officer (or contact person at the title co) always really knows what they are talking about, but I go by what they say. I figure it's my best bet - and they are more likely to know than the lender. They're also the ones responsible for getting the DOT recorded... JMO