Posted by Anonymous on 6/18/05 10:26pm
Msg #45971

Corporation Assignment of Deed of Trust.

In the loan package that I am putting together, there are three sets of these forms. I've never come across one of these ever. There are no signatures lines for husband and wife Joint tenants , nor for all other parties listed on the other corp assign of deed of trust, however, on the second page of each set, there is the California all purpose acknowledgement wording with a place for the notary seal and signature.
Question - are these for the signing agent to complete or the lender to complete for recording the deed of trust? Explantion of this would be appreciated. Thanking you in advance to all.

Reply by TitleGalCA on 6/18/05 10:31pm
Msg #45972

Is this a residential sale?

Reply by Anonymous on 6/18/05 10:47pm
Msg #45975

yes, it looks like it is, or a refi. I'm not sure. Thank you for the quick response.

Reply by Lee/AR on 6/18/05 10:56pm
Msg #45982

Short answer: Not for you or Borrower to complete. Bank uses it to sell loan to another bank.

Reply by TitleGalCA on 6/18/05 11:02pm
Msg #45984

Typically, I see these in high liability closings. In those situations, the LO may take on the loan, then immediately assign (or transfer their interest as beneficiary) to another. They 'sell' the loan obligation. John/Jane Doe, husband and wife have nothing to do with it. Its a document that has to be signed by the original beneficiary. In residential sales, I don't usually see an assignment so early on, but it's certainly not impossible.

If you are signing John/Jane Doe, there's nothing for you to do. Check the signature block on the assignment document. My guess is it's either blank, or has a signature block for the first LO. Call the SS or TC as courtesy to confirm that you have nothing to do with this document. You should be fine.

Reply by Anonymous on 6/19/05 12:13am
Msg #45989

Thank you for all you help, and to everyone else that responded. Now, I have another one!
First time for a quit claim (included with the previously mentioned loan package). I know we are not to leave any blank spaces, so where it states : real property in the city of xxxxx, county of xxxx, State of California, described as
____________________ ___________________________


________________________
name of borrowerxxxxxxxx

Question: do I put the description that is listed on exhibit "A" and then do the CA acknowledgement that is preprinted, of notorization of the borrower?

I'm not familiar with quit claims . Thanks again to all.

Reply by AngelinaAZ on 6/19/05 12:26am
Msg #45992

Re: Quitclaim Deed

Does the Quitclaim Deed have notorial wording for an Acknowledgement or a Jurat? What State are you in?

Reply by AngelinaAZ on 6/19/05 12:33am
Msg #45993

Re: Quitclaim Deed

I can give you an Arizona recommendation only. In AZ, (you should verify the law in your own state) there is a requirement for 'no blank spaces' in documents requiring Jurats only... not acknowledgements. Although they recommend no blank spaces in documents requiring acknowledgements, it is a recommendation only and not the law.

If your state law is the same, check your handbook, leave the deed alone. Put a stickie on it if you feel that the space needs to be brought to the attention of the Loan Officer but I would not ask the borrowers to correct anything unless specifically instructed to.

Reply by PAW_Fl on 6/19/05 6:13am
Msg #46000

Without seeing the entire document (and not offering legal advice), I can assume that the space to which you are referring is for the property address: 123 Anystreet, Somewhere, US 99999.

**YOU** do not fill in the blanks. The signers of the instrument must complete the blank spaces as they see fit and you cannot specifically tell them what goes there, but you can suggest what may be used, such as simply stating "your address".

Finally, depending on where the QCD will be recorded, it may need witnesses. I am assuming from your post you the property is in CA, so no witnesses would be required.

Reply by TitleGalCA on 6/19/05 9:51am
Msg #46011

***First time for a quit claim (included with the previously mentioned loan package). I know we are not to leave any blank spaces, so where it states : real property in the city of xxxxx, county of xxxx, State of California, described as:***

___this is where the legal description goes. Leave it alone - Let title/escrow fill it out______

Your clue here is "described as" which is always the legal description of the property. Leaving it blank doesn't mean you ignored the rule to not notarize a document with blanks, it just means the legal hasn't been filled in - maybe the document was prepared by EO who didn't take the time and/or have the legal available, to make the document complete. Happens alot. To be comfortable with the golden rule of not notarizing docs with "blanks", make sure the QCD conforms with the rest of all the borrower's names in your package, eg. John/Jane Doe buying a home, John Doe is taking title as married man, sole and separate. Jane Doe is signing the QCD.

*************************************************************

As to what appears to be the signature line of the quitclaiming party:

_____they sign here_______________________________
name of borrowerxxxxxxxx

I would use the ack that's provided, as long as correct ack for your state.

*************************************************************

Comments are based on what you've described in your post. If you like, you can fax the QCD to me and I'll email you.

Reply by BrendaTX on 6/19/05 10:18am
Msg #46014

And, OMG...

*If you like, you can fax the QCD to me and I'll email you.*

And, OMG...be sure and erase any name on it before the secret superior other aka "Old Timer" starts making noise about the confidentiality issue.

Reply by TitleGalCA on 6/19/05 10:22am
Msg #46015

Re: And, OMG...

oh jeez. the things we have to think of in offering help...

Yes, by all means - Erase the names! (and keep me from being blasted)

Reply by Sylvia_FL on 6/19/05 3:50pm
Msg #46061

Re: And, OMG...

Even if you erase the name, Old Timer will still accuse you of not doing so.

Someone asked to fax me a doc to look at, and I agreed to it. The person did erase the borrowers name. However Old Timer decided that I made a bad judgement in allowing the person to fax me the document. Even after he was told that the borrowers info had been erased he called me a liar. - I did offer to forward the fax to anyone who wanted to see it to show the info was erased. (I use maxemail for my faxes so could easily have forwarded it) Old timer didn't take me up on the offer, and when the person who sent me the fax also posted that the borrowers name had been erased Old Timer chose to ignore it.

Reply by TitleGalCA on 6/19/05 7:08pm
Msg #46076

Re: And, OMG...

As I've had a bad day today, Sylvia, if anyone called 'old timer' attempted to criticise me for offering help to someone that didn't understand a document (without giving legal advice), I'd tell him to mind his/her own business.

It was kind of you to even respond to such a person.

Reply by BrendaTx on 6/19/05 7:28pm
Msg #46083

Re: And, OMG...Sylvia

Yes, that's the Old Timer I refer to. I read it.

Reply by Anne_SoCA on 6/18/05 11:49pm
Msg #45986

I've had those in the last three sets of documents that I've done. As stated in the other posts, you don't need to do anything with those. At least that's what I was told by escrow.