Posted by jlynn mn on 3/18/05 7:59am
Msg #26223

borrowers compliance agreement

Question,
For an ameriquest loan , This is one that I haven't seen can some one please help me with an answer to my question . What would you put in these lines ??

This instrument was acknowledged before me on (date) By ( the borrower) in the rare case of Corporation or Trustee it will continue " in my capacity of ----------for -------------"

Thank you ..................

Reply by Art_MD on 3/18/05 8:07am
Msg #26224

it could be (Secretary/vice-president/trustee) for (xyz corporation or abc trust)
Titles and entities could vary depending on situation


Art

Reply by jlynn mn on 3/18/05 8:10am
Msg #26227

Thank you , Im still confused as to what to put in the lines ??

Reply by Ted_MI on 3/18/05 8:19am
Msg #26229

Jlynn,

I think Art gave you a pretty good answer. If you are still confused, I would suggest you acquire a Minnesota Notary Law Primer, put out by the NNA. I imagine one of these exists, as I have a Michigan Notary Law Primer and use it now and then. It has been very helpful. And in this primer there are specific examples of what you are asking about: acknowledgments for a corporation, for a trustee, and also other examples. I imagine something comparable would be in the Minnesota primer.

Reply by Claudia_NJ on 3/18/05 8:24am
Msg #26230

For example if Joe Smith who is the CEO for ABC Co. would fill in:

"This instrument was acknowledged before me on (date) By ( the borrower) in the rare case of Corporation or Trustee it will continue " in my capacity of Chief Executive Officer for ABC Co"

If this is clear take a look at you state's law primer because it would give detailed infor on how to go about doing this.

Reply by jlynn mn on 3/18/05 8:41am
Msg #26234

Thank you all for your answers. I will get a mn primer book.

Reply by Ty_MN on 3/18/05 3:50pm
Msg #26325

You are probably looking at a page where you have 3 different options for the actual acknowledgement to use. You only use that one IF the borrower IS a corporation. Then the person signing has to be an officer of the company where you would list their title.

Otherwise you would use the one of the other options that you would notarize.

Reply by mimi_NJ on 3/18/05 2:00pm
Msg #26311

This instrument was acknowledged before me on (date) By ( the borrower) in the rare case of Corporation or Trustee it will continue " in my capacity of ----------for -------------"

Was there a Corporation or Trustee for the signing? If not, I would think you wouldn't complete that portion.

Mimi

Reply by Ernest_CT on 3/18/05 5:56pm
Msg #26348

Why does this sound ...

... as if it is a question from a test?

Forget the Primer from the NNA! Go directly to your state's Notary Manual (or whatever your state calls it). The NNA's Primer may be behind the current law!