Posted by MonicaFL on 10/29/05 11:32am
Msg #73005

HELOC with Trustees

Okay. Here's a question for all of you gurus out there. I have a HELOC scheduled for Monday. The mortgage reads" John E. Doe and Mary A. Doe, Trustees of the Doe Family Trust... the signature page reads: John E. Doe, as trustee and also in his/her capacity as an individual - same same goes for Mary A. Doe. Do they sign it just John E. Doe or John E. Doe as trustee and also in his/her capacity asan individual (there is no room for all of this but it is all printed out below the signature box). I think they will only have to sign their names because all of the rest is printed out but am just not sure. Thank you for your help.

Reply by Becca_FL on 10/29/05 12:06pm
Msg #73013

They need to sign individually and as TTEE. BUT, check with the lender or Title to make sure docs are signed as the lender wants.

Reply by PAW_Fl on 10/29/05 1:44pm
Msg #73023

If the "name" below the signature line reads, "John E. Doe, as trustee and also in his/her capacity as an individual", then that's the way they need to sign.

Since they are signing as an individual and as the trustee of the trust, you will need to complete the certificates (in a representative capacity) substantially in the same form as shown on pages 30 and 31 of the FL notary manual. You can modify the wording such that both capacities are shown in your certificate. That is, you can use the following construct for the body of the certificate:

"... by John E. Doe, individually and as Trustee of the John and Mary Doe Trust and by Mary A. Doe, individually and as Trustee of the John and Mary Doe Trust ..."

Don't forget to include the form of identification used to identify the signers.

Reply by renee_CA on 10/29/05 2:25pm
Msg #73026

so then how do you do their initials - when they are the trustees?

Reply by PAW_Fl on 10/29/05 2:38pm
Msg #73028

However the lender wants them. Typically, from what I have experienced, there is no need to show their capacity when initialing, except in the case of a POA. Attorney-in-fact capacity is representative capacity of another person. Trustee, president, corporate officer, is a representation of a duty or function or entity, not a person.